Aker Solutions to Cooperate With Baker Hughes on Early-Phase Studies

While the Norwegian parliament reportedly approved the development plan for giant Johan Sverdrup field, the Norwegian industry is trying to find new partners to maintain its clout in Europe.  

Norway-based Aker Solutions and US-headquartered Baker Hughes agreed to cooperate on early-phase studies to help customers improve the overall economics and value of oil and gas field developments.

“Our ability to maximize value is greatest when we can enter a project early at the appraisal and feasibility stages and evaluate the potential of a field's total development instead of parts of it," Henning Østvig, head of Front End Spectrum at Aker Solutions, commented in a note. 

The company wants to find new solutions to optimise capital expenditure and production, and Baker Hughes is ready to take up the challenge. 

"While we always want to find the best solutions for our customers, the current market environment gives us an added sense of urgency” Scott Reeves, president of Reservoir Development Services at Baker Hughes, said in the same release. 

This comes in a moment Johan Sverdrup increasingly comes under the spotlight, with Norwegian endorsement to the project and new contracts being awarded.  

Earlier this week, Statoil awarded two contracts at a total value of more than NOK 4.35 billion to Odfjell Drilling for drilling wells on the Johan Sverdrup field.