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It is the first time Aker Solutions teams up with Idemitsu on a project in Asia Pacific and marks an expansion into a key new market, Vietnam. The nine-month contract is for front end engineering design (FEED) work for the Sao Vang and Dai Nguyet developments in the Idemitsu-operated blocks 05-1b and 05-1c in the Nam Con Son basin.
"We are pleased with the opportunity to for the first time work with Idemitsu Oil and Gas in such an important emerging market as Vietnam," said Luis Araujo, chief executive officer of Aker Solutions. "This will further strengthen our reach in Asia after building an important regional base in Malaysia."
The FEED outcome will be used by Idemitsu Oil and Gas to make an investment decision for the first phase of development at the Vietnamese basin.
For Aker Solutions the project will at its peak involve about 100 engineers, designers and drafters out of the company's regional hub in Kuala Lumpur.
The contract is part of the company's second-quarter order intake.
Aker Solutions is a global provider of products, systems and services to the oil and gas industry. Its engineering, design and technology bring discoveries into production and maximize recovery. The company employs approximately 15,000 people in about 20 countries. Go to http://akersolutions.com for more information on our business, people and values.
This press release may include forward-looking information or statements and is subject to our disclaimer, see http://akersolutions.com