In its first quarter business outlook for this year, Aker Solutions said demand for subsea products and services remains strong.

“Subsea, the biggest business area, had a record-high EBITDA margin of 11.5% in the quarter, up from 10.6% a year earlier,” noted Aker Solution executive chairman Øyvind Eriksen.

During the first quarter, Aker won in April a contract worth US $2.35 billion (NOK 14 billion) from Total to provide the subsea production systems for the deepwater Kaombo development offshore Angola, and another order worth more than $300 million from Petrobras to supply subsea manifolds for Brazil’s presalt fields.

Outlining its ambition to gain more market share in subsea and deepwater sectors, Aker declared, “We expect strong growth in subsea spending as we continue to develop our unique subsea factory solutions.”

In turn, Aker said this will create demand for umbilicals and process systems, and the Norwegian group said it is currently tendering for subsea contracts and umbilicals both in the North Sea, in Brazil, West Africa, in the U.S. and in Asia-Pacific markets.

Offshore