Aker Solutions Plans Expansion in Scotland

Aker Solutions unveiled its intention to expand in Scotland. The announcement to lease a new office complex in Aberdeen for 20 years came 36 days before the Scottish independence referendum.

"This move is a long-term investment for us and underlines our commitment to Aberdeen and our customers in the area," David Currie, Aker Solutions' regional head in the UK, commented in a note released on Tuesday.

The Norway-based oil services company did not disclose the total amount of its investment, but it simply said that total annual rent will amount to GBP 7.74 million over 20 years.

The Scottish National Party (SNP) welcomed the decision, saying that Aker’s investment highlight the opportunity for an independent Scotland.

“This £150m investment is yet another vote of confidence in the North Sea – and highlights the strength of our oil and gas industry.  There is more wealth remaining off Scotland’s coast than has been extracted – and so it is more important than ever that we make the right decisions to make the most of this resource,” SNP MSP Mark McDonald said in a separate note. 

Aker Solutions is moving closer to a split to streamline process to reduce costs. 

It will split into two companies, one focused on Subsea, Umbilical, Engineering, and Maintenance, Modifications and Operations (MMO) areas; and the second on Drilling Technologies, Aker Oilfield Services, Process Systems, Surface Products and Business Solutions.