Aker Solutions wins Vietnam contract from Idemitsu Oil and Gas

KUALA LUMPUR, Malaysia -- 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.

This is the first time that Aker Solutions will partner with Idemitsu on a project in Asia Pacific, and it marks an expansion into a key new market, Vietnam. The nine-month contract is 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.

"We are pleased with the opportunity to for the first time work with Idemitsu Oil and Gas in such an important emerging market as Vietnam," said Luis Araujo, CEO of Aker Solutions. "This will further strengthen our reach in Asia after building an important regional base in Malaysia."

The FEED outcome will 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.