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Share 2017-11-24 17:29 RATOS B 36.50 SEK

Aibel

  • Mads Andersen

    CEO

Aibel is a leading Norwegian supplier of maintenance and modification services (Modification and Yards) for production platforms and onshore installations for oil and gas as well as new construction projects (Field Development) in oil and gas and renewable energy (Renewables).

Aibel has a strong market position based on the company’s integrated business model which covers the entire value chain, a combination of Norwegian and Asian resources, and strong customer relationships. Customers are primarily major oil companies which operate on the Norwegian continental shelf.

Market

The market for maintenance and modification services for oil and gas production platforms has recently experienced a severe downturn, leading to low levels of activity and a need to restructure in the industry. Given the weak market trend, Aibel has devoted itself to strengthening its competitiveness. Among Aibel’s competitors are Aker Solutions, Kvaerner in Field Development as well as multinational companies and Asian yards.

Sustainability

Aibel’s top sustainability issues are health, safety and environment (HSE) as well as anti-corruption. In 2016, the company continued to clarify its position, strategy and efforts regarding environmental and climate issues.

Better efficiency and competitiveness

In future, focus will be to continue to improve Aibel’s delivery model to enhance efficiency and competitiveness, ensure high quality in the deliveries of existing project portfolios and win new contracts in and beyond the oil and gas sectors. Aibel has a market-leading position, longterm customer relations and core expertise coupled with a strong business model in a market that has potential for growth.