Aker Solutions

While it remains today only an idea, there are but a few barriers keeping an unmanned floater from being realized, according to one of the world’s leading offshore engineering firms.

The combined company will target the renewables market. Aker Solutions intends to spin off its wind development and its carbon capture technology businesses into two new companies, which will be part of its renewable energy group, Aker Horizons.

Askeladd Vest is Phase 2 of the Snøhvit gas development, which is expected to see an FID this year.

Sandvik and Van Oord’s announcements come a week after oil major BP said it’s slashing 10,000 jobs.

The cement industry is exploring carbon capture technology to reduce its carbon footprint.

Delivery of the umbilicals is expected in Q4 2021. The King’s Quay FPS achieved FID in Q2 2019, and is expected to process up to 80,000 B/D of crude oil with first production in 2022.

The company started operating its mobile test facility for carbon capture at Preem’s refinery in Lysekil, Sweden.

Sandvik and SNC-Lavalin made similar announcements in late March and would take further action if necessary.

The five-year contract is worth an estimated $400 and covers more than 200 offshore assets.

The umbilicals will be designed and manufactured at Aker Solutions’ facility in Alabama.