The secured order backlog at the end-of-the quarter stood at NOK 99 billion, while tendering value in the quarter increased slightly to NOK 79 billion.
Norway draugen upgrade#
Order intake for the quarter ended at NOK 12.5 billion, or 1.1-times book-to-bill, and included offshore projects like the Rosebank FPSO upgrade for Altera, the electrification of Okea's Draugen platform, Equinor's Åsgard topside modifications for the Berling tie-in, as well as the subsea production system for TotalEnergie's Lapa South West field in Brazil. Driven by solid performance in ongoing projects, EBITDA increased to NOK 906 million, compared to NOK 583 million in the same quarter last year. Key developments Revenue in the first quarter increased to NOK 11.4 billion compared to NOK 8.3 billion in the first quarter of 2022. With a historically high order backlog and robust order intake in this quarter, we are on-track to meet financial targets and to seize opportunities in rapidly changing energy markets," said Kjetel Digre, Chief Executive Officer of Aker Solutions. "Aker Solutions has delivered solid financial results while continuing to execute on our strategic agenda. Order intake NOK 12.5 billion (1.1-times book-to-bill) Growing demand for Aker Solutions' offerings for the energy industry is reflected in a record-high order backlog and high tendering activity. Read the latest issue of the OGV Energy magazine HERE.LYSAKER, Norway, /PRNewswire/ - Aker Solutions has delivered increased year-on-year revenues, margin growth and improved cash-generation on the strength of solid project execution. OKEA took over operation of Draugen in 2018. The platform is in a water depth of 250 m. A plan for development and operation was approved in 1988, and production started in 1993. The Draugen oil field was discovered in 1984 by Shell. In August 2021, Odfjell Oceanwind was awarded a pre-project grant from Enova, Norway’s fund for climate and energy technology, to mature its first commercial contracts for MOWUs and its ‘WindGrid’ concept to electrify oil and gas installations. “The Draugen windfarm project also fits well with Odfjell Oceanwind’s long-term strategy to become a leading global floating wind O&M and technology provider.”
Odfjell Oceanwind chief executive Per Lund said, “We look forward to further exploring this exciting opportunity in close collaboration with OKEA and TrønderEnergi. The study will include early stage technical, economic and regulatory evaluation, as well as the potential impact on the environment and climate.
Odfjell Oceanwind believes they are well-suited to providing power to oil and gas installations that require power for a limited period. MOWUs are floating wind turbines that can move from location to location as and when there is a need for renewable power.
The windfarm could also serve as a flexible storage location for Odfjell Oceanwind’s Mobile Offshore Wind Units (MOWUs), producing renewable energy in between contract periods for off-grid applications. The intention is to use renewable electricity from the floating windfarm to provide power to the Draugen platform and utilize its infrastructure, including a cable from shore to the platform which is also being planned. Odfjell Oceanwind has entered into a memorandum of understanding with Norwegian exploration and production company OKEA and utility TrønderEnergi to evaluate the use of a floating windfarm connected to the Draugen platform. Draugen oil platform evaluated as first-use of Norwegian floating power plant
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