International oil service group Aker Solutions is strengthening its presence in the Canadian oil and gas market through taking full ownership of Newfoundland and Labrador-based AKCS Offshore Partner.
AKCS Offshore Partner was a partnership formed by Norwegian Aker Solutions, SNC-Lavalin and G.J Cahill & Co. in 2002 to pursue contracts for the Atlantic Canada oil and gas industry. The partnership has been offering maintenance, modifications and operations (MMO) services.
"The buy-out will support Aker Solutions' growth plans in North America and be the foundation for further expansion in St. John's and Atlantic Canada. This is a firm commitment from Aker Solutions to continue to invest in this region to offer the best possible support to our customers," says Tore Sjursen, head of maintenance, modifications and operations (MMO) in Aker Solutions.
"We will continue to deliver engineering services for maintenance and modification projects offshore Canada. Further, this move enables us to expand local project management capacity to support all Aker Solutions businesses in the region," says Erik Wiik, Aker Solutions' regional president for North America.
AKCS Offshore Partner, which is based in St John's, Newfoundland and Labrador, has 48 employees. All personnel currently employed by the partnership will be given the opportunity to pursue a career in Aker Solutions.
The financial details of the buy-out are undisclosed.
(Press release)
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