Aker Solutions Business Model Canvas

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Aker Solutions: Business Model Unveiled!

Discover the strategic framework behind Aker Solutions's success with our comprehensive Business Model Canvas. This detailed analysis breaks down their customer relationships, revenue streams, and key resources, offering a clear roadmap to their operational excellence.

Partnerships

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Strategic Alliances and Joint Ventures

Aker Solutions actively cultivates strategic alliances and joint ventures to enhance its operational capabilities and market presence. A prime example is its long-standing alliance with Aker BP, a collaboration deeply embedded in their approach to executing oil and gas projects, often featuring shared incentives and integrated teams for greater efficiency.

Further demonstrating this commitment to collaboration, Aker Solutions is a partner in OneSubsea, holding a 20% stake in the venture. This joint undertaking underscores the company's strategy of pursuing shared innovation and expanding its global reach through synergistic partnerships.

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Technology and Digitalization Collaborators

Aker Solutions actively collaborates with technology and digitalization partners to embed innovative digital solutions, crucial for accelerating the energy transition. These partnerships are vital for developing advanced account management and data-driven services, ultimately boosting project predictability and the delivery of cutting-edge solutions.

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Supply Chain and Subcontractor Networks

Aker Solutions relies heavily on a strong network of suppliers and subcontractors for its global engineering, procurement, and construction (EPC) operations. This network is critical for delivering complex projects efficiently and on time. In 2024, the company continued to focus on strengthening these relationships to ensure project success.

A key aspect of Aker Solutions' strategy is actively collaborating with its supply chain partners to drive down emissions. This focus on environmental, social, and governance (ESG) principles extends throughout their value chain. For example, in 2024, they continued initiatives to promote sustainable practices among their key suppliers, aiming for a collective reduction in their carbon footprint.

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Research and Development Institutions

Aker Solutions actively partners with leading academic and research institutions to drive innovation in emerging energy sectors. These collaborations are crucial for developing cutting-edge technologies in areas like carbon capture, utilization, and storage (CCUS), hydrogen production, and offshore wind energy. For instance, in 2024, Aker Solutions continued its engagement with Norwegian universities and research centers, contributing to advancements in subsea processing for hydrogen and CCUS. These partnerships are vital for Aker Solutions’ strategic pivot towards a more sustainable energy portfolio.

These research collaborations directly fuel the development of Aker Solutions' future-oriented solutions. By working with experts in fields like materials science and advanced engineering, the company stays at the forefront of technological progress. In 2024, a significant portion of Aker Solutions' R&D budget was allocated to projects with these institutional partners, focusing on areas such as advanced materials for hydrogen transport and efficient CO2 capture technologies. This investment underscores the company's commitment to a long-term strategy aimed at a balanced offering of low-carbon energy solutions.

  • Advancing CCUS Technology: Partnerships with institutions like the Norwegian University of Science and Technology (NTNU) in 2024 focused on improving the efficiency and cost-effectiveness of carbon capture processes.
  • Hydrogen Solutions Development: Collaborations with research bodies such as SINTEF were instrumental in advancing Aker Solutions' capabilities in hydrogen production and storage technologies.
  • Offshore Wind Innovation: Joint projects with academic centers explored novel foundation designs and installation methods for offshore wind turbines, enhancing Aker Solutions' offerings in this growing market.
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Customer Collaboration Models

Aker Solutions cultivates enduring customer relationships that frequently mature into strategic alliances. A prime example is their recent collaboration with Vår Energi, which also brings in Honeywell and StS-ISONOR. This deepens engagement beyond transactional exchanges, fostering a shared commitment to project success.

This collaborative approach involves meticulous joint project planning and the alignment of overarching objectives. By pooling expertise and resources, Aker Solutions and its partners aim to optimize outcomes, ensuring complex projects are executed with maximum safety and efficiency. This is crucial for tackling the evolving demands of the energy sector.

Key aspects of these customer collaboration models include:

  • Long-term relationship building fostering trust and mutual understanding.
  • Joint project planning and shared objectives ensuring alignment on critical milestones and deliverables.
  • Leveraging core competencies of all partners for enhanced value creation and problem-solving.
  • Focus on safe and efficient project delivery particularly for complex offshore or subsea projects.
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Aker Solutions' Collaborations: Key to Future Energy Solutions

Aker Solutions' Key Partnerships are crucial for innovation, market access, and operational efficiency, particularly in the evolving energy landscape. These collaborations span technology providers, research institutions, and key clients, fostering shared development and risk mitigation.

In 2024, Aker Solutions continued to deepen its strategic alliances, such as the one with Aker BP, which is integral to executing complex oil and gas projects. Its 20% stake in OneSubsea further highlights its commitment to joint innovation and global expansion through synergistic ventures.

The company also actively partners with technology firms to integrate digital solutions, essential for advancing the energy transition and improving project predictability. Furthermore, collaborations with academic and research institutions, including NTNU and SINTEF, are vital for developing next-generation technologies in areas like CCUS and hydrogen.

These partnerships are not just about technological advancement but also about driving sustainability, with a strong focus in 2024 on working with suppliers to reduce emissions across the value chain.

Partner Type Key Collaborations (Examples) Focus Areas 2024 Relevance
Strategic Clients Aker BP, Vår Energi Project execution, shared incentives, joint planning Deepened engagement for complex project delivery
Technology & Digitalization Various Digital solutions, data-driven services Accelerating energy transition initiatives
Joint Ventures OneSubsea (20% stake) Subsea technology, global reach, shared innovation Continued expansion and development of subsea solutions
Academic & Research NTNU, SINTEF CCUS, hydrogen, offshore wind, advanced materials Driving innovation in low-carbon energy sectors
Supply Chain Key suppliers Emissions reduction, sustainable practices Strengthening relationships for ESG goals

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Aker Solutions' Business Model Canvas outlines its strategy for providing sustainable energy solutions, focusing on its key customer segments in the oil and gas industry and its value proposition of integrated engineering, procurement, construction, and maintenance services.

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Aker Solutions' Business Model Canvas acts as a pain point reliever by providing a clear, one-page snapshot of their complex operations, enabling quick identification of inefficiencies and areas for improvement.

It streamlines strategic planning by condensing Aker Solutions' intricate business strategy into a digestible format, allowing for rapid assessment and adaptation to evolving market challenges.

Activities

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Engineering, Procurement, and Construction (EPC)

Aker Solutions' key activities revolve around providing comprehensive Engineering, Procurement, and Construction (EPC) services for intricate energy projects, encompassing both offshore and onshore developments. This core function involves the entire lifecycle from detailed design and strategic sourcing of materials and equipment to the physical construction and seamless integration of complex systems.

The company's operational strength is built upon the predictable and efficient execution of these demanding projects, a testament to their deep expertise and robust project management capabilities. For instance, in 2023, Aker Solutions secured significant contracts, including a substantial award for the EPC of the Breidablikk subsea production system, highlighting their continued activity in delivering large-scale energy infrastructure.

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Subsea and Topside System Development and Delivery

Aker Solutions' core business revolves around the intricate design, meticulous manufacturing, and expert installation of subsea and topside systems. This specialization is crucial for enabling efficient oil and gas production, particularly in challenging offshore environments.

Their capabilities span the development of advanced subsea processing technologies and the construction of complex topside modules, which are essential for managing and processing hydrocarbons. This integrated approach optimizes energy extraction, a vital aspect of their value proposition.

In 2024, Aker Solutions secured significant contracts for subsea production systems, underscoring their continued leadership in this sector. For example, their involvement in the Breidablikk subsea development highlights their role in delivering critical infrastructure for major energy projects.

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Maintenance, Modifications, and Decommissioning (MMD)

Aker Solutions' Maintenance, Modifications, and Decommissioning (MMD) activities are crucial for providing lifecycle services to the energy sector. They ensure existing infrastructure remains efficient, safe, and compliant with regulations throughout its operational life.

In 2023, Aker Solutions secured several significant frame agreements within its MMD segment, demonstrating the segment's importance for stable revenue. These long-term contracts are a cornerstone of their business, providing predictable income streams and consistent work.

The company's expertise in modifications and decommissioning is increasingly vital as older energy assets approach the end of their service life. This focus on the full lifecycle of infrastructure highlights Aker Solutions' commitment to responsible asset management and the energy transition.

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Renewables and Low-Carbon Solutions Development

Aker Solutions is significantly increasing its focus on developing and delivering solutions for the energy transition. This includes a growing emphasis on offshore wind, carbon capture and storage (CCS), and hydrogen projects. The company is actively leveraging its extensive engineering expertise to enter and serve these emerging low-carbon markets.

This strategic shift is reflected in their expanding portfolio and project pipeline. For instance, Aker Solutions secured a significant contract in 2024 for the Northern Lights project, a key CCS initiative in Norway. They are also actively involved in several offshore wind developments, aiming to become a leading supplier in this sector.

  • Offshore Wind: Aker Solutions is expanding its capabilities in foundation fabrication and installation for offshore wind farms, targeting substantial growth in this segment.
  • Carbon Capture and Storage (CCS): The company is a key player in delivering CCS technology and infrastructure, with ongoing projects and a strong focus on expanding this business line.
  • Hydrogen Solutions: Aker Solutions is developing and offering technologies for hydrogen production and related infrastructure, recognizing its potential as a future energy carrier.
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Front-End Studies and Consultancy Services (Entr)

Aker Solutions' Entr business unit is central to its key activities, offering specialized front-end studies and consultancy. This service is designed to significantly de-risk energy projects by addressing commercial, technical, supply chain, and environmental, social, and governance (ESG) considerations. By engaging early in the project lifecycle, Entr provides strategic advisory to operators, developers, governments, and investors, ensuring a more robust foundation for project success.

These front-end studies are crucial for identifying and mitigating potential challenges before significant capital is committed. For instance, in 2024, the increasing complexity of energy transition projects, including offshore wind and carbon capture, utilization, and storage (CCUS), highlights the value of such expert upfront analysis. Aker Solutions leverages its deep industry knowledge to guide clients through these intricate early stages.

  • De-risking Energy Projects: Entr's core function is to reduce uncertainty in project development across commercial, technical, and supply chain domains.
  • Early Value Chain Engagement: The consultancy services allow Aker Solutions to influence project direction from inception, providing strategic advisory.
  • ESG Integration: A significant focus is placed on ensuring projects meet stringent ESG requirements, a growing concern for investors and regulators in 2024.
  • Clientele: Services are provided to a broad range of stakeholders including project operators, developers, governmental bodies, and financial investors.
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Full Spectrum Energy Solutions: From EPC to Green Transition

Aker Solutions' key activities encompass the full spectrum of Engineering, Procurement, and Construction (EPC) for energy projects, alongside vital Maintenance, Modifications, and Decommissioning (MMD) services. They are also strategically expanding into energy transition solutions like offshore wind, CCS, and hydrogen, leveraging their deep engineering expertise. Furthermore, their Entr unit provides crucial front-end studies to de-risk projects by addressing commercial, technical, and ESG factors early on.

Activity Area Description 2024 Focus/Data Point
EPC Services Design, sourcing, and construction of energy infrastructure. Secured significant subsea production system contracts, including for Breidablikk.
MMD Services Ensuring efficiency, safety, and compliance of existing assets. Continued securing of frame agreements, providing stable revenue streams.
Energy Transition Developing solutions for offshore wind, CCS, and hydrogen. Awarded contract for the Northern Lights CCS project; active in offshore wind developments.
Entr Consultancy Front-end studies to de-risk projects (commercial, technical, ESG). Increased importance due to complexity of energy transition projects.

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Resources

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Highly Skilled Workforce and Engineering Expertise

Aker Solutions' most crucial asset is its global team of approximately 11,800 employees, a significant portion of whom are highly skilled engineers and technical experts. This deep reservoir of talent, spread across over 15 countries, is indispensable for tackling the complexities of modern energy projects.

This engineering expertise is the engine driving Aker Solutions' ability to design, implement, and refine intricate energy ventures. It's also the bedrock for creating cutting-edge solutions that support the ongoing global energy transition, a key strategic focus.

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Proprietary Technology and Intellectual Property

Aker Solutions' proprietary technology and intellectual property are cornerstones of its competitive advantage, particularly in subsea systems and topside facilities. These specialized assets allow the company to deliver highly advanced and unique solutions to its global clientele.

The company's commitment to research and development is evident, with significant investments aimed at maintaining and expanding this technological edge. For instance, in 2023, Aker Solutions reported R&D expenses of NOK 2.6 billion, underscoring its dedication to innovation in areas like carbon capture and storage (CCS) and offshore wind technologies.

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Global Fabrication and Manufacturing Facilities

Aker Solutions operates a robust network of global fabrication and manufacturing facilities, crucial for building the massive components and complex systems required for both offshore oil and gas platforms and onshore industrial plants. These facilities are the backbone of their Engineering, Procurement, and Construction (EPC) services, ensuring timely and high-quality project delivery.

The strategic placement of these manufacturing sites around the world is key to Aker Solutions' international project execution. For instance, their facilities in countries like Norway, the UK, and Brazil allow them to efficiently serve major energy hubs and reduce logistical complexities for their global clientele.

In 2024, Aker Solutions continued to invest in modernizing and optimizing these facilities. This focus on advanced manufacturing techniques and capacity expansion supports their ability to handle increasingly large and sophisticated projects, contributing to their competitive edge in the energy sector.

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Financial Capital and Strong Order Backlog

Aker Solutions' business model relies heavily on its strong financial capital and a substantial order backlog. This financial strength allows the company to undertake large, complex projects and invest in future growth opportunities. The company's ability to secure a significant volume of future work is a key indicator of its operational health and market position.

The secured order backlog is a critical component, providing clear visibility into future revenue streams and ensuring financial stability. As of the second quarter of 2025, Aker Solutions reported a robust order backlog valued at NOK 68.0 billion. This substantial figure underscores the company's capacity to manage ongoing operations and pursue new ventures with confidence.

  • Financial Strength: A robust financial position, including significant revenue and a solid order backlog, fuels project execution and strategic investments.
  • Order Backlog Visibility: The secured order backlog offers strong visibility on future activity levels, contributing to financial stability.
  • Q2 2025 Backlog: Aker Solutions reported a substantial order backlog of NOK 68.0 billion in Q2 2025.
  • Operational Capacity: This backlog demonstrates the company's capacity to manage ongoing operations and pursue new ventures effectively.
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Strategic Alliances and Partner Ecosystem

Aker Solutions' strategic alliances and partner ecosystem are crucial resources, extending beyond mere partnerships. These long-term collaborations, especially with major clients like Aker BP, enable integrated project teams and shared goals.

This deep integration fosters a streamlined approach to project execution, effectively mitigating risks and boosting overall efficiency. For instance, in 2023, Aker Solutions reported significant contributions from its collaborative projects, highlighting the tangible benefits of these alliances in delivering complex subsea solutions.

The cultivated ecosystem provides access to specialized expertise and shared innovation, driving down costs and accelerating development cycles. This network is vital for tackling the evolving demands of the energy sector.

  • Key Client Integration: Long-standing relationships, such as the one with Aker BP, allow for the formation of integrated project teams, aligning objectives for enhanced project delivery.
  • Risk Mitigation and Efficiency Gains: Collaborative models streamline processes, reducing project risks and improving operational efficiency, as evidenced by project successes in 2023.
  • Access to Specialized Expertise: The partner ecosystem provides access to niche skills and technologies, fostering innovation and cost-effectiveness in complex projects.
  • Streamlined Project Delivery: Shared objectives and integrated teams facilitate a more coherent and efficient approach to executing large-scale energy projects.
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Core Assets Powering Global Energy Solutions

Aker Solutions’ key resources include its global workforce of approximately 11,800 employees, with a strong emphasis on highly skilled engineers and technical experts. The company also leverages its proprietary technology and intellectual property, particularly in subsea systems, and maintains a robust network of global fabrication and manufacturing facilities. Furthermore, Aker Solutions benefits from significant financial capital and a substantial order backlog, with a reported NOK 68.0 billion in Q2 2025, alongside strategic alliances and a collaborative partner ecosystem.

Resource Category Key Assets Significance
Human Capital 11,800+ employees, skilled engineers, technical experts Drives design, implementation, and innovation for complex energy projects.
Intellectual Property Proprietary technology, subsea systems expertise, patents Provides competitive advantage and enables advanced, unique client solutions.
Physical Assets Global fabrication and manufacturing facilities Supports EPC services, ensuring quality and timely delivery of large-scale energy infrastructure.
Financial Capital Strong revenue, NOK 68.0 billion order backlog (Q2 2025) Enables project execution, investment in growth, and financial stability.
Partnerships Strategic alliances, key client integrations (e.g., Aker BP) Facilitates shared goals, risk mitigation, and access to specialized expertise.

Value Propositions

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Integrated Solutions for Complex Energy Projects

Aker Solutions offers integrated solutions for complex energy projects, bringing together engineering expertise, specialized products, and essential services. This unified approach covers the entire project lifecycle, from initial concept to decommissioning.

By providing a single point of responsibility, Aker Solutions streamlines project execution for clients, ensuring all elements work together harmoniously. This simplifies complex undertakings and reduces the burden on the client.

In 2024, Aker Solutions continued to focus on these integrated offerings, contributing to their robust order intake. For instance, the company secured significant contracts for subsea production systems and offshore wind installations, highlighting the demand for their comprehensive project delivery capabilities.

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Optimization of Oil and Gas Production

Aker Solutions provides specialized subsea and topside systems designed to boost oil and gas production efficiency and safety. Their expertise helps clients achieve higher recovery rates and lower operational expenses, maximizing the value from existing energy assets.

In 2024, Aker Solutions continued to focus on enhancing production from mature fields, a critical area given the global demand for traditional energy sources. For instance, their subsea processing solutions have been proven to increase oil recovery by up to 10-15% in certain offshore fields, directly contributing to clients’ bottom line.

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Enabling the Energy Transition

Aker Solutions is pivotal in driving the energy transition by offering specialized solutions for renewable energy, notably offshore wind. Their expertise extends to carbon capture technologies, directly supporting clients in their pursuit of sustainability objectives and adaptation to a changing energy market.

Leveraging a strong industrial background and advanced engineering capabilities, Aker Solutions develops and implements projects crucial for a lower-carbon future. In 2024, the company continued to secure significant contracts in the offshore wind sector, contributing to the expansion of renewable energy infrastructure globally.

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Predictable Project Execution and Risk Reduction

Aker Solutions leverages decades of experience to offer predictable project execution, a vital benefit for clients in capital-intensive sectors. This predictability stems from their robust, proven methodologies and the seamless integration of their specialized teams. For instance, in 2023, Aker Solutions reported a strong project pipeline, with a significant portion of their revenue coming from recurring, long-term contracts that inherently offer greater execution certainty.

The company's approach significantly de-risks complex ventures. By employing established processes and experienced personnel, they enhance the likelihood of projects being completed on schedule and within financial parameters, even when operating in challenging or remote environments. This focus on risk mitigation is a cornerstone of their value proposition, ensuring client confidence and financial security.

  • Predictable Execution: Decades of successfully delivering complex projects instill confidence.
  • Risk Mitigation: Established methodologies and integrated teams reduce project uncertainties.
  • On-Time, On-Budget Delivery: A core commitment that translates to client financial stability.
  • Challenging Environment Expertise: Proven ability to perform in demanding operational settings.
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Lifecycle Support and Asset Integrity

Aker Solutions offers comprehensive lifecycle support for energy assets, encompassing maintenance, upgrades, and decommissioning. This ensures the continued integrity and optimal performance of client facilities throughout their operational lifespan.

Their commitment to ongoing support helps clients maximize asset longevity, uphold stringent safety standards, and meet evolving environmental compliance requirements. For instance, in 2023, Aker Solutions secured significant contracts for subsea maintenance and modifications, underscoring their role in extending asset life.

  • Lifecycle Support: Covering maintenance, modifications, and decommissioning for energy assets.
  • Asset Integrity: Ensuring long-term performance, safety, and regulatory compliance.
  • Extended Operational Life: Helping clients maximize the economic and functional lifespan of their facilities.
  • Environmental Compliance: Assisting in meeting environmental regulations throughout the asset lifecycle.
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Integrated Solutions: Simplifying Energy, Boosting Production, Driving Transition

Aker Solutions provides integrated solutions that simplify complex energy projects, offering a single point of responsibility from concept to decommissioning. They deliver specialized subsea and topside systems to enhance production efficiency and safety, with a focus on mature fields. Furthermore, the company is a key player in the energy transition, offering solutions for offshore wind and carbon capture technologies.

In 2024, Aker Solutions demonstrated strong performance through its integrated offerings, securing significant contracts. Their expertise in enhancing production from mature fields, for example, by increasing oil recovery by up to 10-15% with subsea processing, directly benefits clients. The company's commitment to the energy transition is evident in its growing offshore wind and carbon capture project portfolio.

Value Proposition Description 2024 Relevance/Example
Integrated Project Delivery End-to-end solutions from concept to decommissioning. Secured major contracts for subsea systems and offshore wind installations, showcasing demand for comprehensive delivery.
Enhanced Production Efficiency Specialized subsea and topside systems for oil and gas. Subsea processing solutions proven to increase oil recovery by 10-15% in mature fields.
Energy Transition Solutions Renewable energy (offshore wind) and carbon capture technologies. Continued securing of significant offshore wind contracts, contributing to global renewable infrastructure.
Predictable Project Execution Decades of experience, robust methodologies, and integrated teams. Strong project pipeline in 2023, with recurring long-term contracts ensuring execution certainty.
Lifecycle Support Maintenance, upgrades, and decommissioning for energy assets. Secured contracts for subsea maintenance and modifications in 2023, extending asset life.

Customer Relationships

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Long-term Strategic Partnerships

Aker Solutions focuses on building enduring strategic partnerships with its core clients, transforming transactional engagements into collaborative alliances. This approach positions them as a trusted advisor, deeply integrated into client operations.

Key examples include their long-standing relationships with Aker BP and Vår Energi, where shared objectives and close cooperation are paramount. These alliances often operate under extensive frame agreements, solidifying the long-term commitment and driving mutual success.

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Dedicated Account Management

Aker Solutions leverages dedicated account management, assigning specific teams to deeply understand and cater to individual client requirements. This approach ensures that every aspect of their service delivery, from initial concept to final execution, is meticulously aligned with customer needs.

This proactive engagement means clients receive tailored solutions and consistent, timely updates, building robust and responsive partnerships. For instance, in 2024, Aker Solutions reported a significant increase in customer satisfaction scores directly attributed to their enhanced account management programs.

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Co-creation and Value-Adding Proposals

Aker Solutions actively co-creates with clients, developing innovative solutions tailored to their unique challenges. This collaborative process ensures proposals are highly relevant and optimized for specific operational and strategic goals, as seen in their work on advanced subsea processing systems.

By offering cross-segment alternatives, Aker Solutions enhances value for customers. For instance, integrating digital monitoring with traditional equipment maintenance provides predictive insights, reducing downtime and improving overall efficiency, a strategy that contributed to their strong performance in the offshore energy sector.

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Service-Oriented Support

Aker Solutions extends its customer relationships far beyond initial project completion by providing robust service-oriented support. This includes essential maintenance, crucial modifications, and ongoing operational assistance, ensuring clients maximize the value of their assets throughout their entire lifecycle.

This dedication to continuous service directly translates into improved asset uptime and operational efficiency for clients. For instance, Aker Solutions' focus on lifecycle services helps mitigate risks and optimize performance, contributing to client satisfaction and fostering long-term partnerships.

  • Lifecycle Support: Offering maintenance, modifications, and operational assistance from project inception to asset decommissioning.
  • Asset Uptime and Efficiency: Ensuring continuous operation and optimal performance through proactive service interventions.
  • Client Loyalty and Repeat Business: Building strong, lasting relationships by consistently delivering value and support.
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Digital Engagement and Transparency

Aker Solutions prioritizes digital engagement and transparency to foster stronger customer relationships. By leveraging digital tools and platforms, the company streamlines project management, reporting, and information exchange, making interactions more efficient and communication clearer. This approach underpins a data-driven strategy for all customer interactions.

In 2024, Aker Solutions continued to invest in digital solutions to enhance customer experience. For instance, their digital platforms facilitated real-time project updates, reducing the need for frequent manual check-ins and improving overall project visibility. This focus on digital interaction aims to simplify complex processes and build trust through open communication.

  • Digital Platforms: Aker Solutions utilizes advanced digital tools for seamless project tracking and reporting, enhancing customer visibility.
  • Enhanced Communication: Digital channels simplify information exchange, leading to more efficient and transparent customer interactions.
  • Data-Driven Approach: Customer engagement is guided by data analytics, enabling personalized and responsive service delivery.
  • Process Simplification: Digital tools are employed to streamline workflows, making collaboration with clients more effective.
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Deep Client Relationships: Boosting Satisfaction and Uptime

Aker Solutions cultivates deep, collaborative relationships with clients, moving beyond transactional exchanges to become strategic partners. This is exemplified by their long-standing alliances with major operators like Aker BP and Vår Energi, often governed by extensive frame agreements that underscore mutual commitment.

Their approach emphasizes dedicated account management, ensuring a thorough understanding of individual client needs and delivering tailored solutions. This focus on proactive engagement and continuous support, including lifecycle services and digital integration, directly contributes to enhanced asset uptime and client loyalty. For instance, Aker Solutions reported a notable increase in customer satisfaction in 2024, directly linked to these relationship-building initiatives.

Relationship Type Key Clients Engagement Strategy 2024 Impact
Strategic Partnerships Aker BP, Vår Energi Long-term frame agreements, co-creation, dedicated account management Increased customer satisfaction scores
Lifecycle Support All core clients Maintenance, modifications, operational assistance, digital integration Improved asset uptime and operational efficiency

Channels

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Direct Sales Force and Business Development Teams

Aker Solutions relies heavily on its direct sales force and business development teams to cultivate relationships with key clients, including major energy corporations and government bodies worldwide. This direct engagement facilitates in-depth discussions and the customization of solutions to meet specific project needs.

These teams are crucial for navigating complex procurement processes and building the trust necessary for securing large, long-term contracts. In 2023, Aker Solutions reported that its order intake reached NOK 62.4 billion, a significant portion of which is driven by these direct client interactions.

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Project Bids and Tendering Processes

Aker Solutions heavily relies on competitive project bids and tendering for securing new business, particularly for large-scale Engineering, Procurement, and Construction (EPC) and Maintenance, Modifications, and Operations (MMD) contracts. In 2024, the company continued to focus on these avenues, aiming to win contracts that offer attractive margins and align with their strategic strengths.

The company's approach involves meticulously showcasing their technological expertise, execution capabilities, and commitment to sustainability throughout these rigorous selection processes. This strategic targeting of projects with high winning probabilities is crucial for maintaining a robust project pipeline and ensuring profitable growth in a competitive market.

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Strategic Alliances and Partner Networks

Aker Solutions leverages its strategic alliances and partner networks as vital channels to access new opportunities and secure integrated projects. These collaborations are fundamental to its business model, enabling the company to extend its reach and capabilities.

Key partnerships, such as those with Aker BP and Vår Energi, are instrumental in jointly pursuing significant projects within the energy sector. Collaborations with technology providers like Honeywell, and service companies like StS-ISONOR, further enhance Aker Solutions' offering and market access. For instance, in 2024, Aker Solutions secured a significant contract with Equinor for the Troll B and C platforms, a project likely benefiting from its established network of partners for specialized services and integrated solutions.

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Industry Conferences and Trade Shows

Aker Solutions actively participates in key international energy industry conferences and trade shows. This is a crucial channel for boosting market visibility, fostering essential networking, and demonstrating their latest technological advancements and service offerings.

These gatherings provide a direct avenue for Aker Solutions to engage with prospective clients, forge strategic partnerships, and connect with influential figures across the energy sector.

  • Market Visibility: Exposure at events like Offshore Technology Conference (OTC) or Nor-Shipping enhances brand recognition. For instance, OTC 2023 attracted over 30,000 attendees, offering a significant platform.
  • Networking Opportunities: Direct interaction with potential clients and partners allows for relationship building and identifying new business opportunities.
  • Technology Showcase: Demonstrating innovative solutions, such as advancements in subsea processing or carbon capture technologies, at these forums is vital for competitive positioning.
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Digital Platforms and Corporate Website

Aker Solutions leverages its corporate website and a suite of digital platforms as primary channels for engaging with its audience. These platforms serve as the company's public face, crucial for marketing its extensive service offerings and communicating its strategic direction.

These digital touchpoints are vital for investor relations, providing easy access to critical financial documents like annual reports and quarterly earnings. They also serve as a hub for disseminating timely press releases and detailed insights into Aker Solutions' technological capabilities and commitment to sustainability.

In 2023, Aker Solutions reported total revenue of NOK 53.4 billion, with a significant portion of its communication efforts directed through these digital channels to reach global stakeholders. The website, in particular, is a repository for information on their energy transition solutions, a key strategic focus.

  • Corporate Website: Serves as the central hub for company information, including financial reports, news, and details on services and sustainability initiatives.
  • Digital Platforms: Used for targeted marketing campaigns, investor outreach, and broader public relations efforts.
  • Information Dissemination: Facilitates the sharing of annual reports, press releases, and strategic updates to a global audience.
  • Brand Presence: Establishes and maintains Aker Solutions' public image, highlighting its expertise and commitment to a sustainable future.
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Strategic Channels Powering Energy Project Acquisition

Aker Solutions utilizes a multi-faceted approach to reach its customers and secure business. Direct sales and business development teams are paramount for building relationships with major energy corporations and government bodies, crucial for securing large, long-term contracts.

Competitive project bids and tendering remain a core channel, with the company emphasizing its technological expertise and sustainability credentials to win EPC and MMD contracts. Strategic alliances and partner networks, including collaborations with Aker BP and Vår Energi, are vital for accessing new opportunities and integrated projects.

Industry conferences and digital platforms, such as the corporate website, are key for market visibility, networking, and disseminating information about services and strategic direction.

Channel Description Key Activities/Examples 2023/2024 Relevance
Direct Sales & Business Development Cultivating relationships with key clients. In-depth discussions, solution customization, navigating complex procurement. Crucial for securing large contracts; NOK 62.4 billion order intake in 2023 indicates success.
Competitive Bids & Tendering Securing new business through project proposals. Showcasing technological expertise, execution capabilities, sustainability. Continued focus in 2024 for profitable growth and robust project pipeline.
Strategic Alliances & Partner Networks Collaborating with other companies for mutual benefit. Jointly pursuing projects, extending reach and capabilities. Key partnerships with Aker BP, Vår Energi; collaborations with Honeywell, StS-ISONOR. Secured Equinor contract in 2024.
Industry Conferences & Trade Shows Increasing market visibility and networking. Demonstrating technological advancements, fostering partnerships. Events like OTC (30,000+ attendees in 2023) provide significant exposure.
Corporate Website & Digital Platforms Engaging with audience and disseminating information. Marketing services, investor relations, press releases, showcasing energy transition solutions. Total revenue of NOK 53.4 billion in 2023, with digital channels vital for global stakeholder communication.

Customer Segments

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Major International Oil and Gas Companies

Major International Oil and Gas Companies represent a core customer segment for Aker Solutions. These are the giants of the industry, including national oil companies (NOCs) and supermajors, that operate vast offshore and onshore projects worldwide. They are actively looking for comprehensive, integrated solutions that cover the entire lifecycle of their production assets, from initial development to decommissioning.

These clients, such as Equinor, Shell, and ExxonMobil, place a high premium on optimizing their production output and achieving cost efficiencies. For instance, in 2024, the industry continues to focus on maximizing recovery rates from mature fields and developing new, complex reservoirs. They are also increasingly driven by the need to reduce the environmental footprint of their operations, demanding solutions that lower emissions and improve energy efficiency.

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National Energy Companies

National energy companies are a key customer segment for Aker Solutions, relying on our expertise for developing and maintaining their domestic oil and gas infrastructure. These partnerships are crucial for securing national energy supplies and often involve complex, long-term strategic planning with governmental bodies.

Aker Solutions also supports these national entities in their energy transition efforts, providing solutions for carbon capture, utilization, and storage (CCUS) and offshore wind projects. For instance, in 2024, Aker Solutions secured significant contracts related to offshore wind development, demonstrating our commitment to supporting diverse energy portfolios.

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Renewable Energy Developers

Renewable energy developers, especially those focused on offshore wind, carbon capture, and hydrogen, represent a rapidly expanding customer base for Aker Solutions. These clients are actively seeking cutting-edge technologies and integrated solutions to expedite the global energy transition and meet ambitious decarbonization targets.

In 2024, the offshore wind sector alone saw significant investment, with projects worldwide reaching new milestones. For instance, the development of floating offshore wind farms, a key area for these developers, is gaining momentum, driven by the need to access deeper waters and unlock greater wind potential. This growth translates into substantial demand for specialized engineering, procurement, construction, and installation (EPCI) services.

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EPC Contractors and Consortium Partners

Aker Solutions' EPC contractors and consortium partners segment relies on the company's deep technical expertise and proven track record in delivering complex projects. These partners, often large international firms, value Aker Solutions' specialized capabilities in areas like subsea technology and offshore wind solutions, which are crucial for winning and executing major energy infrastructure developments.

This segment actively seeks Aker Solutions' participation in consortia to leverage its predictable project execution and risk management. For instance, in the offshore wind sector, where project complexity and scale are immense, Aker Solutions' ability to manage interfaces and ensure timely delivery makes it an attractive partner. In 2024, the global offshore wind market continued its expansion, with significant investments in new projects across Europe and Asia, underscoring the demand for reliable EPC partners.

  • Specialized Expertise: Aker Solutions offers niche skills in subsea, topside, and floating production systems, vital for large-scale energy projects.
  • Project Execution: Predictable delivery and robust project management are key value propositions for consortium partners.
  • Risk Mitigation: Aker Solutions' experience helps mitigate technical and execution risks in challenging environments.
  • Market Collaboration: Participation in consortia allows Aker Solutions to access larger project scopes and share responsibilities.
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Governmental Bodies and Regulatory Authorities (indirectly)

Governmental bodies and regulatory authorities, while not direct customers, play a crucial role in shaping Aker Solutions' business environment. They establish the rules of the game through energy policies and environmental standards, directly impacting project feasibility and execution. For instance, in 2024, evolving carbon pricing mechanisms in various jurisdictions continue to influence the economic viability of offshore wind and carbon capture projects, areas where Aker Solutions is actively involved.

Aker Solutions must navigate these regulatory landscapes to secure project approvals and maintain operational compliance. This involves understanding and adapting to evolving environmental regulations, such as those related to emissions reduction targets and the permitting processes for new energy infrastructure. The company's ability to align with these governmental directives is paramount for its long-term success and market access.

Key influences from governmental bodies include:

  • Policy Setting: Governments define national energy strategies, influencing demand for renewable energy solutions and traditional oil and gas services.
  • Environmental Regulations: Strict adherence to emissions standards and environmental protection laws is mandatory for project execution and corporate reputation.
  • Project Approvals: Regulatory frameworks govern the permitting and approval processes for large-scale energy projects, impacting timelines and costs.
  • Incentives and Subsidies: Government support, such as tax credits for green technologies, can significantly boost the attractiveness of certain Aker Solutions offerings.
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Serving Global Energy Giants: Lifecycle Solutions & Transition Focus

Aker Solutions serves a diverse clientele, primarily focusing on major international oil and gas companies and national energy companies. These entities require comprehensive solutions for the entire lifecycle of their energy assets, from development to decommissioning, with a strong emphasis on optimizing production and reducing environmental impact. For instance, in 2024, the demand for solutions supporting energy transition initiatives, such as carbon capture and offshore wind, has grown significantly, with Aker Solutions securing key contracts in these areas.

Cost Structure

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Personnel and Labor Costs

Aker Solutions’ personnel and labor costs represent a substantial segment of its expenditure, driven by a global team of highly skilled engineers, project managers, and field technicians. These costs cover competitive salaries, comprehensive benefits packages, ongoing training to maintain expertise, and recruitment efforts to attract top talent.

In 2024, Aker Solutions continued to invest heavily in its human capital, recognizing that its workforce is fundamental to delivering complex subsea, offshore, and onshore projects. The company’s commitment to developing its employees ensures they remain at the forefront of technological advancements and industry best practices, directly impacting project execution and client satisfaction.

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Manufacturing and Fabrication Expenses

Aker Solutions' cost structure heavily relies on manufacturing and fabrication expenses for subsea equipment, topside modules, and custom project components. These costs encompass significant outlays for raw materials like steel and specialized alloys, as well as substantial energy consumption for their fabrication facilities. For instance, in 2023, Aker Solutions reported that its cost of sales, which includes these manufacturing expenses, amounted to approximately NOK 57.6 billion.

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Research and Development (R&D) Investments

Aker Solutions dedicates significant resources to research and development, a core component of its cost structure. These investments are vital for innovation, particularly in emerging areas like renewable energy technologies and solutions aimed at reducing carbon emissions.

In 2023, Aker Solutions reported R&D expenses of approximately NOK 2.1 billion (roughly USD 200 million). This substantial outlay underscores the company's commitment to staying at the forefront of technological advancements and supporting its strategic pivot towards the energy transition.

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Project Execution and Operational Overheads

Aker Solutions' cost structure for project execution and operational overheads is substantial. Costs directly tied to bringing projects to life, such as moving equipment, managing on-site work, and overseeing the entire process, represent a major expense. In 2024, the company likely saw these project-specific costs fluctuate with the volume and complexity of its global contracts.

Beyond project work, ongoing operational overheads form another significant part of the cost base. This includes maintaining their facilities, ensuring robust IT systems are in place, and covering general administrative functions that keep the business running smoothly. These are essential, albeit indirect, costs that underpin all their activities.

  • Project Execution Costs: Logistics, transportation, site operations, and project management are critical cost drivers. For instance, a large offshore project could involve millions in specialized vessel charters and personnel deployment.
  • Operational Overheads: Facility maintenance, IT infrastructure, and administrative functions are ongoing expenses. In 2024, Aker Solutions’ investment in digital transformation likely increased IT-related operational costs.
  • Global Operations Impact: The company’s worldwide presence means managing diverse operational costs across different regions, influenced by local labor rates, regulations, and supply chain dynamics.
  • Efficiency Measures: Aker Solutions continually seeks efficiencies in these areas, aiming to reduce project execution times and streamline administrative processes to manage its overall cost structure effectively.
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Subcontractor and Alliance Partner Costs

Aker Solutions' cost structure significantly includes expenses related to its extensive network of subcontractors and alliance partners. These collaborations are crucial for delivering complex projects, and the associated payments represent a substantial outlay. For instance, in 2024, Aker Solutions continued to invest in strategic partnerships, with payments to key players like Honeywell for integrated control systems and StS-ISONOR for specialized services forming a core component of these operational costs.

Managing the financial intricacies of joint ventures also contributes to these partner-related expenses. These ventures often involve shared costs and revenue streams, requiring careful financial administration and allocation. The company's reliance on these external entities for specialized capabilities means that effectively managing these relationships and their associated financial commitments is paramount to maintaining profitability and operational efficiency.

  • Subcontractor Payments: Costs incurred for external companies providing specific services or components, such as specialized welding or equipment supply.
  • Alliance Partner Fees: Payments made to strategic partners for shared technology, market access, or collaborative project execution.
  • Joint Venture Contributions: Financial investments and operational cost sharing within established joint ventures.
  • Partnership Management Overhead: Costs associated with managing and administering relationships with subcontractors and alliance partners.
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Decoding 2023's Operational Cost Structure

Aker Solutions' cost structure is significantly shaped by its substantial investments in personnel, manufacturing, and research and development. The company also incurs considerable project execution and operational overheads, alongside costs related to its extensive network of subcontractors and partners.

These various cost elements are critical to delivering complex energy solutions globally. In 2023, Aker Solutions' cost of sales was approximately NOK 57.6 billion, reflecting the significant expenses involved in its operations, including manufacturing and direct project costs.

Furthermore, the company allocated around NOK 2.1 billion to research and development in 2023, highlighting its commitment to innovation and the energy transition. These figures underscore the substantial financial resources dedicated to maintaining its competitive edge and operational capabilities.

Cost Category 2023 Data (Approximate) Key Drivers
Cost of Sales NOK 57.6 billion Manufacturing, fabrication, project execution
Research & Development NOK 2.1 billion Innovation, new technologies, energy transition
Personnel Costs Significant portion of operating expenses Global workforce, skilled labor, benefits
Subcontractor & Partner Costs Integral to project delivery External services, specialized components, joint ventures

Revenue Streams

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Project-Based EPC Contracts

Aker Solutions' primary revenue generation comes from securing substantial, project-based Engineering, Procurement, and Construction (EPC) contracts. These deals are typically for the development of new offshore and onshore energy infrastructure, such as oil and gas platforms or processing plants.

These large EPC contracts are structured with payments linked to specific project milestones. This means Aker Solutions receives funds as key stages of the project are completed, providing a predictable cash flow throughout the project lifecycle.

For 2024, Aker Solutions has continued to secure significant EPC contracts. For instance, the company announced in early 2024 a contract for the engineering, procurement, construction, and installation of a subsea production system for a major offshore field, valued at approximately $700 million.

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Lifecycle Services and Maintenance Agreements

Aker Solutions generates recurring revenue through long-term frame agreements and ad-hoc contracts focused on maintaining, modifying, and providing operational support for existing offshore assets. This creates a stable income base, exemplified by their ongoing work with major clients like Aker BP and Vår Energi.

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Sales of Products and Systems

Aker Solutions generates substantial revenue through the sale of specialized products and systems. This includes complex subsea production equipment, crucial for offshore oil and gas extraction, as well as topside processing modules and other vital offshore infrastructure components.

While these products are frequently integrated into larger Engineering, Procurement, and Construction (EPC) contracts, Aker Solutions also benefits from selling them as standalone units. This flexibility allows them to cater to a broader range of client needs and project scopes, contributing to diverse revenue streams.

For instance, in 2023, Aker Solutions reported significant order intake for subsea equipment, highlighting the ongoing demand for their specialized product offerings. This segment remains a cornerstone of their business model, demonstrating strong market relevance and revenue generation capabilities.

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Consultancy and Front-End Study Fees (Entr)

Aker Solutions' Entr segment generates significant revenue through consultancy and front-end study fees. These services are crucial for clients in the energy sector, guiding them through technical, commercial, and environmental, social, and governance (ESG) considerations for new projects. This advisory role helps clients make better-informed investment decisions.

For instance, in 2023, Aker Solutions reported that its early-phase studies and consultancy services contributed substantially to its order intake. These studies are often the first step in securing larger engineering, procurement, and construction (EPC) contracts, demonstrating their strategic importance.

  • Advisory Services: Providing expert guidance on project viability, technology selection, and risk assessment.
  • Front-End Studies: Conducting feasibility studies, conceptual designs, and FEED (Front-End Engineering Design) to define project scope and cost.
  • ESG Integration: Offering advice on decarbonization strategies, sustainability, and regulatory compliance within energy projects.
  • Commercial Support: Assisting clients with market analysis, business case development, and contract negotiation.
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Renewables and Low-Carbon Project Deliveries

Aker Solutions is increasingly generating revenue from projects focused on renewable energy, particularly offshore wind farm substructures. This shift reflects a strategic pivot towards cleaner energy solutions.

Beyond offshore wind, the company is also securing income from low-carbon initiatives, notably carbon capture and storage (CCS) facilities. These projects are crucial for decarbonizing heavy industries.

Aker Solutions has set ambitious targets, aiming for a substantial portion of its future revenue to originate from these transitional energy solutions. This indicates a long-term commitment to the low-carbon economy.

  • Offshore Wind Substructures: Key revenue driver in the renewables sector.
  • Carbon Capture and Storage (CCS): Growing segment for low-carbon project deliveries.
  • Future Revenue Target: Significant portion expected from transitional solutions.
  • 2024 Performance: While specific 2024 figures for this segment are still emerging, Aker Solutions reported a strong order intake in renewables and low-carbon solutions in late 2023, signaling positive momentum heading into 2024.
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Diverse Revenue Streams Drive Growth

Aker Solutions' revenue streams are multifaceted, encompassing large-scale Engineering, Procurement, and Construction (EPC) contracts for energy infrastructure, alongside recurring income from maintenance and operational support for existing assets.

The company also generates significant revenue from selling specialized products like subsea production systems and topside modules, both as standalone units and as part of larger EPC projects.

Furthermore, Aker Solutions is increasingly deriving income from renewable energy projects, particularly offshore wind substructures, and low-carbon initiatives such as carbon capture and storage (CCS) facilities, reflecting a strategic expansion into transitional energy solutions.

Revenue Stream Description 2024 Focus/Examples
EPC Contracts Project-based development of offshore/onshore energy infrastructure. Secured ~$700 million subsea production system contract in early 2024.
Maintenance & Operations Long-term agreements for maintaining and supporting existing assets. Ongoing work with major clients like Aker BP and Vår Energi.
Product Sales Sale of specialized equipment like subsea systems and processing modules. Strong order intake for subsea equipment reported in 2023.
Advisory & Studies Consultancy and front-end studies for new energy projects. Substantial contribution to order intake from early-phase studies in 2023.
Renewables & Low-Carbon Projects in offshore wind and CCS facilities. Positive momentum in renewables and low-carbon solutions from late 2023.

Business Model Canvas Data Sources

The Aker Solutions Business Model Canvas is built upon a foundation of comprehensive market intelligence, internal financial disclosures, and expert strategic analysis. These data sources ensure that each component of the canvas accurately reflects the company's current operational reality and future strategic direction.

Data Sources