Aker Solutions Bags Engineering Contract From Idemitsu

KUALA LUMPUR, July 12 (Bernama) -- Aker Solutions has secured a contract from Idemitsu Oil and Gas Co Ltd to provide engineering services for the development of oil and gas resources in the Nam Con Son basin, offshore Vietnam. In a statement Tuesday, the provider of products, systems and services to the oil and gas industry, said the nine-month contract was for front end engineering design (FEED) work for the Sao Vang and Dai Nguyet developments in the Idemitsu-operated blocks 05-1b and 05-1c in the Nam Con Son basin. "This is the first time Aker Solutions is teaming up with Idemitsu on a project in Asia Pacific and it marks an expansion into a key new market, Vietnam. "We are pleased with the opportunity to work with Idemitsu Oil and Gas, for the first time, in such an important emerging market as Vietnam," said Aker Solutions Chief Executive Officer Luis Araujo. He said the partnership would further strengthen the company's reach in Asia after building an important regional base in Malaysia. The FEED outcome would be used by Idemitsu Oil and Gas to make an investment decision for the first phase of development at the Vietnamese basin. For Aker Solutions, the project will, at its peak, involve about 100 engineers, designers and drafters out of the company's regional hub in Kuala Lumpur. -- BERNAMA