As Oil Wells Dry, Umbilicals the Way to Go in Deepsea Exploration

Aker Solutions Asia-Pacific president Crawford Tennant discusses:

- Aker’s services within the stable;
- Previous posting within subsea solutions - 'Christmas trees' - etc;
- The umbilicals business: carrying data - fluid - chemicals;
- Clients - producers - installers;
- Typical lifespan;
- EMs: West Africa - Asia - CAGR of between 11 and 18 per cent annually - growing presence;
- Choice of Malaysia as investment destination;
- Petronas - Marginal oil fields - $60m investment - Pekan - umbilical manufacturing - commencement Q4 2013;
- Why not Kuantan, Gebeng;
- Amount invested and status of development;
- Operational challenges: manpower - logistics;
- Importance - infrastructure - communications;
- Skills in developing 'well functioning local teams' - in a skills context - Pekan - how;
- 40 per cent of company owned by Norwegian Ministry of Trade - implications, reasons;
- Corruption - procurement - approach;
- Petronas capex spend - strategy.