Search results for: mmo workforce

11226 results

A list of search results

  • 10 April 2015
    Business & Finance, Operations & Maintenance

    Aker Solutions has released a response regarding yesterday’s reports in Norwegian media about the company’s plans to further reduce its MMO workforce. Namely, the company said in February it will be cutting another 300 jobs in its maintenance, modification and operations (MMO) division off Norway due to a decline in activity caused by falling oil prices […]

  • 15 July 2015
    Business & Finance, Equipment, Operations & Maintenance

    Aker Solutions has seen its profit decline in the second quarter on MMO overcapacity, lease costs and lower demand for subsea services in the North Sea. The company generated revenue of NOK 8 billion in the second quarter of 2015 compared with NOK 8.1 billion a year earlier, due to projects in Africa, Norway and Brazil. However, […]

  • 13 February 2015
    Business & Finance, Equipment, Operations & Maintenance

    Aker Solutions revenue rose 21 percent to NOK 9.2 billion in the fourth quarter of 2014 from a year earlier, helped by strong progress on major projects across the global business. Earnings before interest and taxes (EBIT) climbed to NOK 557 million in the quarter from NOK 486 million a year earlier. The EBIT margin […]

  • 29 April 2015
    Business & Finance, Equipment, Operations & Maintenance, Project & Tenders

    Aker Solutions’ net income for the quarter fell to NOK 220 million ($28.7 million) from NOK 283 million ($37 million) in the same period last year. Earnings per share (EPS) fell to NOK 0.79 in the quarter from NOK 1.03 a year earlier. Earnings were impacted by costs of overcapacity in the maintenance, modifications and […]

  • 15 January 2016

    Aker Solutions, a Norwegian oil services company, on Friday set in motion its workforce reduction process whereby up to 900 positions will be lost from its maintenance, modifications and operations (MMO) unit across Norway.  After it failed to secure the maintenance and modification contract award for Statoil’s fields in Norway in December 2015, the company informed of the […]

  • 18 February 2015
    Business & Finance, Equipment, Operations & Maintenance

    Aker Solutions has said it will adjust its workforce capacity within the maintenance, modifications and operations (MMO) market in Norway after a continued decline in activity levels. About 300 engineering and project management employees in the Norwegian MMO business may be affected. Necessary adjustments will be made through normal employee turnover, reassignments to other parts […]

  • 18 February 2015

    Norwegian engineering and construction company Aker Solutions will lay off more workers in Norway due to a decline in activity levels stemming from low oil prices. The company has said that it will make “the adjustments” within the maintenance, modifications and operations (MMO) sector. About 300 engineering and project management employees in the Norwegian MMO business may be affected. The […]

  • 3 February 2016

    Norwegian offshore services firm Aker Solutions has won a framework agreement to provide engineering and construction services for several offshore oil and gas fields in the UK North Sea. The contract has a fixed period of five years as well as an option to be extended by five years. Aker Solutions’ maintenance, modifications and operations […]

  • 15 December 2015
    Business & Finance

    Aker Solutions, a Norwegian oil services company, has failed to grab the maintenance and modification contract award for Statoil’s fields in Norway. This outcome will have an impact on the company’s workforce.  Aker Solutions has been so far the main provider of modification and maintenance services for Statoil’s fields in Norway through a framework contract that expires in […]

  • 15 January 2016
    Business & Finance, Equipment, Operations & Maintenance

    Aker Solutions today notified employees in its maintenance, modifications and operations (MMO) unit across Norway of necessary steps to reposition the business and enhance competitiveness in a market with unprecedented challenges. The company is streamlining the Norwegian MMO business to one regional unit from previously four, affecting management and staff from Tromsø to Stavanger. Depending […]

  • 15 December 2015
    Business & Finance, Operations & Maintenance, Project & Tenders

    Aker Solutions said today that the absence of a new main supplier contract with Statoil will have ‘serious implications’ for the company’s maintenance, modifications and operations (MMO) business in Norway. Aker Solutions is currently a main supplier of maintenance and modifications services at Statoil-operated fields in Norway through a framework contract that expires in summer 2016 […]

  • 14 March 2016

    Aker Solutions on Monday notified subsea employees in Norway about the company’s latest round of job cuts amid a continued market slowdown. The company stated that this would affect management and other staff in Norway. Aker Solutions already reduced its workforce in Norway in its maintenance, modifications and operations (MMO) unit in January 2016. In addition, […]

  • 13 March 2017

    Following Wood Group’s announcement of the acquisition of Amec Foster Wheeler, the intelligence group Rystad Energy has said that this merger will create a clear market leader within the engineering and MMO-market, with a market share twice as large as its competitors.  With a combined workforce of 64,000, it will rank as one of the top […]

  • 5 November 2015
    Business & Finance, Equipment

    Norwegian oil and gas engineering and construction company Aker Solutions saw its revenues fall amid declining subsea services demand. The company said the drop in demand was especially felt in the North Sea region. Revenue for the third quarter was NOK 7.5 billion, down from NOK 8.3 billion in 2014. Profit for the period was NOK […]

  • 25 March 2020
    Business & Finance, Market outlooks, Outlook & strategy

    More than a million jobs in the oilfield service industry (OFS) are likely to be cut in 2020 due to low project volumes brought upon by the Covid-19 epidemic and the ongoing oil price war, a Rystad Energy impact analysis shows, also revealing that shale services will bear most of the reductions.

  • 24 October 2016

    A sustained low oil price environment is a challenging one, with ‘survival of the fittest’ being an undeniable reality of the sector, Douglas-Westwood, an energy intelligence group said its DW Monday report.  According to Douglas-Westwood, upstream E&P operators, in the past two years, have scurried to re-evaluate their operational Business as Usual (BAU) practices, implementing […]

  • 25 March 2020

    More than a million jobs in the oilfield service industry (OFS) are likely to be cut in 2020 due to low project volumes brought upon by the Covid-19 epidemic and the ongoing oil price war, a Rystad Energy impact analysis shows, also revealing that shale services will bear most of the reductions.

  • 28 October 2016
    Business & Finance

    Norwegian oilfield services provider Aker Solutions on Friday posted a lower profit as well as income due to global slowdown in demand and order intake decline.  The company’s net income for the period decreased to NOK 120 million ($14.5M) in the third quarter this year from NOK 205 million ($24.8M) in the corresponding quarter last […]

  • 5 November 2015
    Business & Finance, Equipment, Operations & Maintenance

    Aker Solutions has delivered lower third-quarter profit as its revenue dropped some NOK 800 million from the prior-year quarter on subsea services activity decline in the North Sea market. Norwegian oil services company generated net income of NOK 205 million ($23.8 million), or NOK 0.75 per share, on revenue of NOK 7.5 billion, versus net income of NOK 270 million […]

  • 28 April 2016
    Business & Finance

    Aker Solutions has reported a net income of NOK 169 million in the first quarter 2016 versus net income of NOK 220 million a year earlier. Revenue declined to NOK 6.5 billion in the quarter from NOK 8.5 billion a year earlier amid a market slowdown. The company posted earnings before interest and taxes (EBIT) of […]

  • 28 April 2016

    Aker Solutions, Norwegian provider of products and services to the international oil and gas industry, sees signs of improvement in the industry. Presenting its first quarter results on Thursday, the company acknowledged the markets were challenging, with projects being postponed across the industry, however it said that there were signs that cost-cutting efforts were having […]

  • 14 March 2017

    UK’s offshore union Unite wants full disclosure on any employment plans that are part of Wood Group’s planned takeover of oil and gas operator Amec Foster Wheeler announced on Monday.  UK-based energy services company Wood Group made a $2.7 billion worth offer to acquire its compatriot consultancy, engineering and project management company, Amec Foster Wheeler. […]