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admin 17.09.2015

Press Release – Aker Solutions has decided to disclose preliminary information on its performance in the first three months of 2013 as the results considerably lag current consensus market estimates. Aker Solutions expects to report revenue of NOK 11.1 billion and earnings before interest, tax, depreciation and amortisation (EBITDA) of NOK 868 million for the first quarter of 2013.
The earnings were impacted by increased costs at the Ekofisk Zulu platform project as work was accelerated to ensure the platform will be transported from the Egersund yard to the Ekofisk field in mid-June and start producing oil by October 2013. Results were also weighed down by a loss of NOK 63 million at the Umbilicals business area.
The earnings were also impacted by a loss of NOK 54 million at the Oilfield Services and Marine Assets (OMA) business area as the vessels Aker Wayfarer and Skandi Aker were idle in the first quarter. In addition, EBITDA margins for the business areas Drilling Technologies, Well Intervention Services and Mooring and Loading Systems were slightly lower in the first quarter than the average in recent quarters, mainly because of increased costs at some projects, some delayed contract awards and timing of progress. The slow start to 2013 reflects both increased market uncertainty and portfolio sensitivities. Posted on April 29, 2013 with tags Aker, Cost, Earnings, Ekofisk, hits, increase, News, Solutions, Zulu. Do you attach great importance to quality and do you have an affinity with offshore projects?
Maersk Drilling Norge AS was established in 1990 and employs a staff of approximately 1000 people. Aker ASA has acquired 16,440,000 shares in Aker Solutions ASA at a price of NOK 115 per share.
Worksheet is valuable tool that works with Excel to show maintenance professionals the energy and operation savings a plant can attain through the use of bearing isolators when applied to motors and relatred equipment. End users simply supply the number of motors, current costs to repair and other pertinent performance data. In his quest to find a permanent means of protecting bearings while enhancing and extending the service life of rotating equipment, David C. According to Orlowski, “On the plant floor, when it comes to a failed motor, the expense of the repair or replacement is, in reality, a minor cost.

Orlowski concludes, “Protect your bearings and you’ll save your motors–it’s as simple as that.
Recognizing the importance of motor bearing protection, the IEEE began to recommend the use of bearing protection and developed a specification that evolved into the IEEE motor, which offers at least twice the reliability of other motors. Reach out to the author: contact and available social following information is listed in the top-right of all news releases. Extra work caused by quality issues related to cables delivered by a sub-supplier also increased the project’s costs. Aker Solutions in the first quarter wrote down the value of several Umbilicals projects following a thorough review of the entire portfolio. The OMA business area is expected to incur additional losses in the second quarter as Aker Wayfarer and Skandi Aker are set to remain idle until commencing operations in mid-June and mid-July, respectively. The figures reported today are preliminary and have not been discussed or approved by the Aker Solutions Board of Directors. While Aker Solutions still experiences a high level of tender activity, the order intake in the next quarters is more at risk than in previous quarters because of recent postponements or cancelations of some projects.
This Excel module identifies energy and operational savings a plant can attain through the use of bearing isolators. The elements of this module can also be used with pumps, machine tool spindles, turbines, fans, gear boxes, paper machine rolls, conveyors, shafts, VFDs and other types of rotating equipment. The CJW allows plants to calculate their own ROI (return on investment) factoring in the use of bearing isolators, including benchmarks of current repair costs and ways to increase the reliability of their rotating equipment.
The benchmarking of Bearing Isolator performance referenced in the CJW relies on data compiled from thousands of actual bearing isolator applications. It does not consume energy, never wears out, and it can be used over and over for many years. We also know that contact seals, fibrous packing, flingers, lip seals, labyrinth seals, ‘sealed for life’ bearings and other devices simply do not keep out contaminants over time. VFD systems inherently generate residual shaft current or shaft voltage that accumulates on the rotor and discharges (shaft to frame) through the motor bearing.

The MGS prevents pitting, fluting and fusion craters to eliminate catastrophic motor failure while permanently protecting bearings from contamination.
Additional applications include the sealing, handling, processing, packing and storage of dry particulates, powders and bulk solids. Several of the projects have, as previously reported, suffered from operational challenges in Norway.
The Cat B project is, as previously communicated, in a system definition phase where Aker Solutions and the client are in a dialogue on how to proceed. We expect greater clarity in the next three months on how significant portfolio sensitivities, such as Ekofisk Zulu and Skandi Aker, will develop.
Protected bearings have proven to run 150,000 hours (17 years) or more; Bearing Isolators eliminate costly maintenance and repair. This random and frequent discharging is referred to as the EDM effect, a phenomenon that causes pitting on the bearing’s rolling elements and raceways and leads to destructive bearing failure. Its key component, the CDR (available as a separate component) works to keep damaging shaft currents away from coupled equipment. The final project result will depend on bonus payments triggered by timely delivery, start-up of the platform and the final settlement with the customer.
As a turnaround plan is about to be implemented, the Umbilicals business area is expected to generate a low, but positive EBITDA margin in the second quarter.
The parties will spend the time required to find a solution and no news should be expected in the near future. Provided that these projects are completed as planned and that the various business areas have a normal capacity utilisation, Aker Solutions expects the financial performance, excluding one-off items, to be better in the third and fourth quarters of 2013 than in the corresponding quarters a year ago and in line with the company’s five-year plan.
The Cost Justification Worksheet For Motors shows how important this product can be to a plant’s bottom line”.

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