On Dec. 7, Aker Solutions said it completed the acquisition of a 70% majority stake in Brazil’s C.S.E. Mecanica e Instrumentacao Ltda., which provides maintenance, assembly, commissioning and crane operations to onshore and offshore oil and gas facilities.
Aker Solutions will access Brazil’s growing market for service in existing oil and gas fields, and plans to expand to key international markets.
The agreement to acquire the stake was announced in October, and included an option for Aker Solutions to purchase the remaining 30% of the company three years from now.
In 2015, C.S.E.’s revenue in Brazilian reais was 322 million.
Recommended Reading
Help Wanted (Badly): Attracting Workers to Energy is Becoming Difficult
2024-03-27 - Attracting workers to the energy industry is becoming a difficult job, despite forecasted growth in the industry.
Stena Evolution Upgrade Planned for Sparta Ops
2024-03-27 - The seventh-gen drillship will be upgraded with a 20,000-psi equipment package starting in 2026.
Petrobras to Step Up Exploration with $7.5B in Capex, CEO Says
2024-03-26 - Petrobras CEO Jean Paul Prates said the company is considering exploration opportunities from the Equatorial margin of South America to West Africa.
E&P Highlights: March 25, 2024
2024-03-25 - Here’s a roundup of the latest E&P headlines, including a FEED planned for Venus and new contract awards.
TotalEnergies Restarts Gas Production at Tyra Hub in Danish North Sea
2024-03-22 - TotalEnergies said the Tyra hub will produce 5.7 MMcm of gas and 22,000 bbl/d of condensate.