Aker Solutions welcomes the interim measures for the oil and gas industry, which will help to increase activity on the Norwegian continental shelf during a critical period for the supplier industry, the company said in its release.
Aker BP's Hod development in the Valhall area is the first project to be realized as a direct result of the temporary tax changes. The project is expected to generate orders worth around NOK 300 million for Aker Solutions in 2020.
Aker Solutions provides engineering services in projects in both the front-end and execution phases of developments. Therefore, new assignments will have immediate effect, and help ensure that valuable resources are maintained in the company.
Aker Solutions aims to generate 20 percent of revenue from renewables including offshore wind, and 25 percent from low-carbon solutions such as carbon capture and electrification by 2030. The large project volumes in some of these segments are still some years ahead, and oil and gas projects are thus particularly important for keeping employment up for the next few years.