Aker and KGNT establish joint venture

Norwegian oilfield engineering company Aker Solutions and Kazakhstan-based KGNT Holding, a provider of services for oil and gas projects, have established a 50/50 joint venture, called Aker Caspian.

The company is targeted for servicing the offshore oil and gas industry in the Kazakhstan sector of the Caspian Sea and will offer a range of services to offshore field development, maintenance and modification projects, as well as fabrication services for onshore plants in Kazakhstan.

Aker Caspian will own, manage and operate a fabrication yard in Aktau, located next to the largest sea port of Kazakhstan.