Aker Solutions To Add 1300 UK Jobs By 2015 - Update

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6/7/2012 5:44 AM ET

Norway-based oil services firm Aker Solutions ASA (AKKVF.PK) on Thursday said it aims to create 1300 new jobs in UK with the creation of a London engineering hub by 2015, citing increasing demand for its technologies and services.

Aker, which currently employs more than 3000 people across the UK, said its new engineering hub in Chiswick would have 1700 employees in total. Three weeks ago, Aker announced that it is looking to grow its Aberdeen operation with 500 jobs over the next two years.

The expansion is part of Aker's expectation to grow its turnover by 9-15 percent per annum from 2011 to 2015. The company employs 25000 people worldwide, and has annual revenues of approximately 3.9 billion pounds.

During a round-table discussion in Oslo, Norway, Aker executive chairman Øyvind Eriksen shared this ambition with British Prime Minister David Cameron and his Norwegian counterpart, Jens Stoltenberg.

David Cameron said, "Their expansion here is testament to the increasing depth and strength of our partnership with Norway across the spectrum of energy issues which helps to ensure that we keep household energy bills as affordable as possible for families across the country."

The company, which provides oilfield products, systems and services in the oil and gas industry, opened a new office in Chiswick Park, West London, last year. The start-up phase has been highly successful.

Aker said its London office is working on high profile field development projects for the North Sea and worldwide. In the new, expanded office, Aker said it will be present with several other business areas, including subsea, drilling technologies and well intervention services.

The company has recently signed an agreement to lease the entire 220000 square feet of Building 6 at Chiswick Park. At full capacity, this will be able to house 1700 personnel, including specialist engineers, project managers, administrative personnel and up to 200 customer representatives.

In Oslo, Aker shares are currently trading at 80.15 Norwegian kroner, up 0.10 kroner or 0.12 percent.

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by RTT Staff Writer

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