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Aker Solutions CEO Expects Brazil Revenue to Double Within 5 yrs

Posted by August 28, 2018

Photo: Aker Solutions

The chief executive of Norwegian oil services firm Aker Solutions said on Tuesday he sees big growth potential from its Brazilian business and from scaling up its exposure to floating offshore windfarms.

"I expect Brazil in five years to be at least twice where it is today for us ... in terms of revenues," Luis Araujo told Reuters in an interview.

"We believe that floating wind is where we can use our capabilities," he said, adding this would be through scaling up operations of Californian company Principle Power, in which Aker Solutions owns 10 percent with an option to increase.

Reporting By Shadia Nasralla

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