International oil service group Aker Solutions is preparing for major growth by investing NOK 500 million (USD 87 million) in its subsea business. This investment is set to double the capacity of its manufacturing plants in Tranby, Norway, and Port Klang, Malaysia. In addition, a new service base will also be established in Malaysia.

The subsea segment of the oil and gas industry is growing rapidly and is expected to develop exponentially over the next few years. Of Aker Solutions' 23 500 employees almost 7000 are employed within the subsea business, a number which is set to increase due to this expansion.

These planned investments are a response to a wave of existing orders and recognition of the growing market demand. Aker Solutions ability to serve its current and future clients will be improved and this development will facilitate market share growth within subsea production technologies, including subsea trees, control systems, pumps and work-over systems.

Tags: Aker Solutions