Aker Solutions targets additional cost-efficiency savings
Aker Solutions is lifting its cost-efficiency target to 50 percent or more by 2021, building on the success of the company’s current improvement program to reduce spending and strengthen competitiveness, the company said in its press release.
The company is on track to boost cost-efficiency across the business by at least 30 percent, or NOK 9 billion in annualized savings, by the end of this year. It is now also targeting an improvement of an additional minimum 20 percent by the end of 2021. This compares with the company’s 2015 costs and work volumes.
Aker Solutions is making these improvements by simplifying its methods, organizational setup and geographic footprint. The company is also standardizing its products and services and increasing efficiency through digital technologies.
Aker Solutions delivers subsea solutions, field design and maintenance and modifications services for offshore oil and gas fields globally. The company's expertise spans the entire life of a field from early-phase engineering through development and production and, finally, to late life and decommissioning.