The planned investments, which are in response to growing market demand in the subsea segment of the oil and gas industry, include the addition of new machines and an expansion of the facilities in Tranby, Norway and Port Klang, Malaysia, and a new service facility in Labuan Federal Territory, East Malaysia which will support projects in the Asia-Pacific region.
Aker Solutions says the investments will facilitate market share growth within subsea production technologies, including subsea trees, control systems, pumps and work-over systems.
“The subsea market has strong fundamentals and this steady growth is expected to continue. We are now preparing for expansion in all markets and regions and these investments give us great momentum. They will also increase our capability to serve our clients and our ability as their preferred partner,” explained Alan Brunnen, executive vice president of Aker Solutions’ subsea business area.