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Aker Acquires Managed Pressure Drilling Specialist MPO

Source: 2/27/2013, Location: Europe

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Aker Solutions has acquired Managed Pressure Operations International, Ltd. (MPO), a company that has successfully developed the next generation of continuous circulation, riser gas handling and managed pressure drilling systems.

The acquisition places Aker Solutions at the forefront of technology development in the market for managed pressure drilling (MPD) which is seen as a key technology enabling better drilling performance and safety. MPO has also developed a new generation riser gas handling system to capture and safely handle gas in the riser.

The company currently employs 100 people in operating subsidiaries in Singapore, Dubai, Jakarta and Houston. These will join Aker Solutions' more than 3 000 drilling technologies experts all over the world. MPO's revenues are expected to continue to increase sharply in the coming years, from revenue of around US $30 million in 2012.

"MPO has proven technically-superior products and the ability to adapt and cater to a client's specific needs. We are pleased to include their offerings in Aker Solutions' portfolio of products, systems and services. The company has a solid reputation as both a product and a service provider, and already provides services to major drilling contractors and oil companies," said Thor Arne Haverstad, head of Aker Solutions' drilling technologies business.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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