Aker Solutions has provided updated unaudited financial information for the two companies - the new Aker Solutions and Akastor - that will be formed following the split of the business at the end of September.
The updated financial information reflects a decision in August by the board of directors to transfer the Aker Geo AS business unit to Akastor instead of keeping it within the new Aker Solutions as previously announced. The figures have also been revised because of continued work to reflect the financial performance of the two new companies as accurately as possible. Financial information on Aker Geo is included in the real estate and other holdings reporting segment in the attached financial information on Akastor.
Aker Geo has approximately 65 permanent employees including geologists, geophysicists and reservoir engineers. It provides geological and geophysical interpretation, petrophysics, reservoir modelling and simulation, production technology and operation and wellsite geology. The Aker Solutions board decided to transfer Aker Geo to Akastor based on an assessment that synergies with Aker Solutions were limited and that Akastor would be a better owner for the unit.
The financial information can be accessed via Aker Solutions.
Adapted from press release by Katie Woodward
Read the article online at: https://www.oilfieldtechnology.com/exploration/02092014/aker-solutions-financial-information-update-243/