Who Are the Core Customers in Aker Solutions Company's Target Market?

Supermajors such as Shell, BP, and TotalEnergies and national oil companies (NOCs) like Equinor drive the bulk of demand for Aker Solutions core customers through large, multi-year EPC contracts for subsea production systems and topside facilities; Equinor remained the largest single customer in 2025, accounting for an estimated ~28% of revenue.

Independent E&P firms seeking fast-track subsea tie-backs, government-backed CCS hubs, and renewable energy developers (offshore wind and utilities) form the secondary market; Aker Solutions targets HVDC converter platform work and subsea cable and foundation scopes for large offshore wind farms.

Aker Solutions primarily serves institutional B2B buyers: engineering managers, procurement managers, and project owners at major oil and gas operators, NOCs, and renewable energy utilities; procurement cycles are long and projects are capital intensive.

Subsea engineering and EPC for major oil and gas operators remains the top revenue driver – subsea systems, umbilicals, and topside packages represented roughly 60% of project backlog in 2025 – while offshore wind and CCS are prioritized for long-term growth.

The NCS remains the largest single market for Aker Solutions clients because the tail end of projects incentivized by the 2020 tax regime reaches peak execution in 2025 – 2026, supporting high demand from offshore oil and gas companies and petroleum producers requiring subsea production systems.

Pre-salt basins in Brazil and deepwater fields in Guyana and West Africa show accelerating demand for subsea engineering buyers and major oil and gas operators that buy Aker Solutions services; these regions prioritize subsea expertise for field development and FPSO tie-ins.

Aker Solutions is strongest in subsea production systems, subsea processing and tie-ins, and integrated brownfield modifications – segments that drove major revenue share on the NCS and sustain repeat work from national oil companies as Aker Solutions customers and EPC contractors seeking subsea engineering partners.

Renewables demand concentrates in the North Sea basin – offshore wind farms and CCS projects such as Northern Lights – while the bidding pipeline as of March 2026 shows a notable shift toward Asia-Pacific and the US Gulf of Mexico, where operators aim to replicate Northern Europe electrification models for reduced emissions.

Aker Solutions adds new clients by converting oil and gas incumbents into broader-energy customers: the company's NOK 78 billion order backlog entering 2026 gives sales visibility and supports pitches to renewable energy developers, FPSO operators, LNG licensors, and national oil companies as Aker Solutions clients. Strategic stakes such as the 20% holding in OneSubsea open subsea engineering buyers and EPC contractors seeking subsea engineering partners.

Retention hinges on repeat-order relationships with core customers like Equinor and strong delivery metrics; de-risking the energy transition with proven technologies (Just Catch carbon capture) and turnkey offshore wind substations reduces churn for offshore oil and gas companies and petroleum producers requiring subsea production systems.

Repeat demand is driven by long-term service agreements, integrated lifecycle offerings, and ecosystem stickiness from OneSubsea technologies; major oil and gas operators that buy Aker Solutions services tend to reuse the firm for brownfield projects, subsea maintenance, and topside-to-subsea packages, boosting customer depth and renewals.

The key lever is technology-led de-risking of clients' energy transitions: with a target of 35% revenue from renewables and low-carbon solutions by end-2026 and sustained margin expansion and robust cash flow in 2025/2026, Aker Solutions positions itself as the partner of choice for renewable energy utilities, offshore wind farm developers procuring foundation and subsea cables, and regional oil companies in the North Sea and Brazil.