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Aker ASA (AKER.OL)

AKER.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Aker Enters Into Partnership With Cognite
Tuesday, 27 Oct 2020 

Oct 27 (Reuters) - Aker ASA ::AKER ASA: COGNITE PARTNERS WITH ACCEL FOR CONTINUED GROWTH.COGNITE HAS ENTERED PARTNERSHIP WITH ACCEL.AS PART OF AGREEMENT, ACCEL WILL BECOME MINORITY SHAREHOLDER IN COGNITE THROUGH A SERIES A ROUND INVESTMENT.AKER - PARTIES WILL WORK TOGETHER TO ACCELERATE COGNITE'S GROWTH INITIATIVES, INCLUDING EXPANDING ITS GO-TO-MARKET STRATEGY AND PRODUCT DEVELOPMENT.  Full Article

Aker Solutions: Merged Company Annual Free Cash Flow Seen At About NOK 1 Bln
Friday, 17 Jul 2020 

July 17 (Reuters) - Aker Solutions ASA ::AKER SOLUTIONS INCOMING CFO SAYS COMPANY EXPECTS ITS RENEWABLE AND LOW CARBON SOLUTIONS BUSINESS TO DELIVER ONE THIRD OF TOTAL REVENUES IN 2025.AKER SOLUTIONS INCOMING CFO SAYS MERGED COMPANY AIMS TO GROW REVENUE BY ABOUT 10% PER YEAR TOWARDS 2025.AKER SOLUTIONS INCOMING CFO SAYS MERGED COMPANY EXPECTS TO DELIVER ABOUT NOK 1 BILLION IN ANNUAL FREE CASH FLOW.  Full Article

Aker ASA Q2 Profit Before Tax Rises To NOK 858 Million
Friday, 17 Jul 2020 

July 17 (Reuters) - Aker ASA ::: SECOND QUARTER AND HALF-YEAR RESULTS 2020 - NET ASSET VALUE OF NOK 34.3 BILLION. UNLOCKS GROWTH OPPORTUNITIES IN RENEWABLE ENERGY AND GREEN TECHNOLOGY INDUSTRIES.Q2 NET ASSET VALUE NOK 34.3 BILLION VERSUS NOK 44.8 BILLION YEAR AGO.NET ASSET VALUE ("NAV") OF AKER ASA AND HOLDING COMPANIES ("AKER") INCREASED BY 10.1 BILLION IN Q2 2020 TO NOK 34.3 BILLION,.VALUE-ADJUSTED EQUITY RATIO FOR Q2 WAS 75 PER CENT.Q2 PROFIT BEFORE TAX NOK 858 MILLION VERSUS NOK 566 MILLION YEAR AGO.SAYS DESPITE LARGE PARTS OF THE WORLD BEING IN LOCKDOWN, THE FIRST HALF YEAR HAS BEEN NOTHING SHORT OF TRANSFORMATIVE FOR THE AKER GROUP.AKER TODAY ANNOUNCES ESTABLISHMENT OF AKER HORIZONS, A GROUP WHOLLY OWNED BY AKER, DEDICATED TO DEVELOP AND OPERATE COMPANIES IN GROWING RENEWABLE ENERGY AND LOW-CARBON TECHNOLOGY SEGMENTS..SAYS COVID-19 HAS AMPLIFIED AND ACCELERATED TRENDS AND TRANSITIONS THAT WILL ONLY STRENGTHEN MOVING FORWARD, INCLUDING NEW SOFTWARE SOLUTIONS FOR ASSET-HEAVY INDUSTRIES, MORE RENEWABLE ENERGY, AND RAPIDLY DEVELOPING GLOBAL HEALTHCARE SYSTEM.  Full Article

Aker ASA Q2 NAV At NOK 44.8 bln
Thursday, 18 Jul 2019 

July 18 (Reuters) - Aker ASA ::REG-AKER ASA: SECOND-QUARTER AND HALF-YEAR RESULTS 2019 – NET ASSET VALUE OF NOK 44.8 BILLION.REG-AKER ASA: SECOND-QUARTER AND HALF-YEAR RESULTS 2019 – NET ASSET VALUE OF NOK 44.8 BILLION.NET ASSET VALUE ("NAV") OF AKER ASA AND HOLDING COMPANIES ("AKER") INCREASED BY NOK 4.7 BILLION FOR FIRST HALF OF 2019.AKER'S LIQUIDITY RESERVES, INCLUDING UNDRAWN CREDIT FACILITIES, STOOD AT NOK 6.1 BILLION AS PER 30 JUNE 2019.VALUE-ADJUSTED EQUITY RATIO FOR Q2 WAS 79 PER CENT, COMPARED TO 82 PER CENT AT END OF Q1 AND 78 PER CENT AT YEAR-END 2018.IN THE SECOND QUARTER, THE NAV ENDED AT NOK 44.8 BILLION, DOWN FROM NOK 56.2 BILLION AT THE END OF THE FIRST QUARTER.THE INCOME STATEMENT FOR AKER ASA AND HOLDING COMPANIES SHOWS A PROFIT BEFORE TAX OF NOK 566 MILLION FOR THE SECOND QUARTER 2019.AKER ENERGY PDO AND A SUBSEQUENT FINAL INVESTMENT DECISION IS TARGETED TO THE SECOND HALF OF 2019.AKER REMAINS POSITIVE ABOUT THE MEDIUM TO LONGER TERM OUTLOOK FOR OIL AND GAS MARKETS AND WILL THEREFORE CONTINUE TO EVALUATE STRATEGIC ALTERNATIVES AND OPPORTUNITIES IN THE SECTOR.  Full Article

Aker Energy To Issue Convertible Bonds Worth USD 100 Mln
Monday, 8 Jul 2019 

July 8 (Reuters) - Aker ASA ::AKER ENERGY ISSUES CONVERTIBLE BONDS TO AFRICA FINANCE CORPORATION.HAS ENTERED INTO AN AGREEMENT TO ISSUE USD 100 MILLION OF CONVERTIBLE SUBORDINATED BONDS TO AFRICA FINANCE CORPORATION.AFC ALSO INTENDS TO TAKE PART IN FUTURE CAPITAL MARKET ACTIVITIES.BONDS HAVE A MATURITY OF FIVE YEARS, WITH AN OPTION TO EXTEND WITH ANOTHER THREE YEARS.BONDS HAVE A COUPON OF 5.5 PER CENT PER YEAR AND WILL BE CONVERTED TO EQUITY IN EVENT OF AN INITIAL PUBLIC OFFERING AKER ENERGY, AT AN AGREED DISCOUNT TO AN IPO OFFERING PRICE OF 1.85 PER CENT PER YEAR.PROCEEDS FROM BONDS WILL BE PART OF FINANCING FOR DEVELOPMENT OF DEEPWATER TANO CAPE THREE POINTS ("DWT/CTP") BLOCK OFFSHORE GHANA.AS PART OF AGREEMENT, AFC HAS RECEIVED EQUITY WARRANTS WITH RIGHT TO SUBSCRIBE SHARES IN AKER ENERGY IN FUTURE EQUITY OFFERINGS BY COMPANY OF UP TO USD 50-100 MILLION.  Full Article

Aker: Svein Oskar Stoknes Appointed CFO
Friday, 14 Jun 2019 

June 14 (Reuters) - Aker ASA ::REG-AKER ASA: SVEIN OSKAR STOKNES APPOINTED CFO AT AKER.SVEIN OSKAR STOKNES HAS BEEN APPOINTED CHIEF FINANCIAL OFFICER (CFO) OF AKER ASA, EFFECTIVE AUGUST 1, 2019.SVEIN OSKAR STOKNES REPLACES FRANK O. REITE, WHO WILL STEP ASIDE DUE TO A HEART RELATED DISEASE THAT HAS DEVELOPED OVER COURSE OF TIME.REITE WILL REMAIN CHAIRMAN OF LISTED COMPANY OCEAN YIELD ASA.  Full Article

Aker Energy eyes IPO later this year
Wednesday, 6 Mar 2019 

March 6 (Reuters) - Aker ASA Senior VP of Field Development, Stefan Johansson, told a conference on Wednesday::AKER ENERGY IS LOOKING AT LAUNCHING A POSSIBLE IPO AFTER SUMMER 2019 - COMPANY OFFICIAL.AKER ENERGY EYES START-UP OF GHANA OIL PRODUCTION IN 2022 -COMPANY OFFICIAL.AKER ENERGY EXPECTS TO ANNOUNCE RESULTS OF LATEST APPRAISAL DRILLING AT PECAN DISCOVERY IN GHANA IN COUPLE OF WEEKS -COMPANY OFFICIAL.AKER ENERGY HOPES TO HAVE DEVELOPMENT PLAN FOR PECAN FIELD TO BE APPROVED IN SUMMER 2019 -COMPANY OFFICIAL.  Full Article

Aker Energy makes additional oil discovery offshore Ghana
Monday, 4 Mar 2019 

March 4 (Reuters) - Aker ASA ::AKER ASA: AKER ENERGY ANNOUNCES SUCCESSFUL DRILLING RESULTS OFFSHORE GHANA.AKER ENERGY, AS OPERATOR OF DEEPWATER TANO CAPE THREE POINTS (DWT/CTP) BLOCK, ANNOUNCES THAT IT ENCOUNTERED OIL IN PECAN SOUTH-1A WELL OFFSHORE GHANA. A SIDETRACK WILL NOW BE DRILLED TO FURTHER APPRAISE VOLUME POTENTIAL.VOLUMES WILL BE AN ADDITION TO GROSS CONTINGENT RESOURCES (2C) FROM EXISTING DISCOVERIES IN AREA, PREVIOUSLY ESTIMATED TO 450 - 550 MMBOE.AKER ENERGY IS IN PROCESS OF ANALYZING WELL RESULT AND WILL COMMENCE FURTHER DRILLING IN ORDER TO VERIFY VOLUME ESTIMATE.ESTIMATES THAT TOTAL VOLUMES TO BE INCLUDED IN A PLAN OF DEVELOPMENT (POD) HAVE POTENTIAL TO INCREASE TO BETWEEN 600 - 1,000 MMBOE.AKER ENERGY SEES FURTHER UPSIDES IN AREA. COMPANY HAS IDENTIFIED MULTIPLE WELL TARGETS TO BE DRILLED AS PART OF A GREATER AREA DEVELOPMENT AFTER SUBMISSION OF POD.AKER ENERGY IS OPERATOR OF DWT/CTP BLOCK WITH A 50% PARTICIPATING INTEREST.AKER ENERGY'S PARTNERS ARE LUKOIL (38%), GHANA NATIONAL PETROLEUM CORPORATION (GNPC) (10%) AND FUELTRADE (2%).  Full Article

Aker's net asset value fell 34 pct in Q4 as oil price plunged
Thursday, 14 Feb 2019 

Feb 14 (Reuters) - Aker ASA ::FOURTH-QUARTER AND PRELIMINARY ANNUAL RESULTS 2018 - NET ASSET VALUE OF NOK 41.7 BILLION – CASH DIVIDEND OF NOK 22.50 PER SHARE PROPOSED.AKER Q4 NET ASSET VALUE NOK 41.7 VERSUS NOK 63.3 BILLION IN Q3 2018, A FALL OF 34.1 PCT.AKER PROPOSES DIVIDEND OF NOK 22.50 PER SHARE FOR 2018 VERSUS NOK 18 PER SHARE FOR 2017.WE RECEIVED A RECORD HIGH NOK 2.2 BILLION IN UPSTREAM CASH FROM OUR PORTFOLIO COMPANIES IN 2018, AND IN 2019 WE EXPECT UPSTREAM DIVIDENDS TO EXCEED NOK 3 BILLION.DIVIDEND PROPOSED IS IN UPPER END OF RANGE.PLEASED TO SAY THAT VALUE DECLINE LAST QUARTER DID NOT AFFECT UNDERLYING DEVELOPMENT OF OUR INVESTMENTS.  Full Article

Aker BP makes North Sea oil and gas discovery
Monday, 4 Feb 2019 

Feb 4 (Reuters) - Aker Bp Asa ::AKERBP: DISCOVERY AT FROSKELÅR.WELL HAS ENCOUNTERED OIL AND GAS.PRELIMINARY ANALYSIS INDICATES A GROSS DISCOVERY SIZE WITHIN PREVIOUSLY COMMUNICATED ESTIMATE OF 45-153 MILLION BARRELS OIL EQUIVALENTS.FROSKELÅR MAIN IS LOCATED IN ALVHEIM AREA AND FOLLOWS FROSK DISCOVERY FROM LAST YEAR.MAJOR PART OF DISCOVERY IS IN LICENCE 869 ON NORWEGIAN CONTINENTAL SHELF, WHILE A PART MAY STRADDLE UK-NORWEGIAN BORDER IN NORTH SEA.DRILLING OPERATION WILL CONTINUE, AND A COMPREHENSIVE DATA COLLECTION PROGRAM WILL BE PERFORMED TO DETERMINE SIZE AND QUALITY OF DISCOVERY.AKER BP IS OPERATOR AND HOLDS 60 PERCENT INTEREST IN LICENCE 869. PARTNERS ARE LUNDIN NORWAY (20 PERCENT) AND VÅR ENERGI (20 PERCENT).  Full Article

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Aker group's billionaire owner eyes less dependence on oil

OSLO Norway's Aker ASA will create more value from IT and low carbon energy businesses in the next decade than from its traditional oil and gas operations, billionaire investor Kjell Inge Roekke said on Wednesday.