Norwegian engineering conglomerate Aker ASA has posted a 691-million-kroner ($99.58 million) net loss for third-quarter 2008, down over 800 million kroner ($115.3 million) over the same time last year.

Company chief executive Leif-Arne Langoy then announced he would resign for “health reasons”.

The company was hit by a 382-million-kroner income tax hit, 10 times higher that in Q3 2007. Company revenues are reportedly still robust and were up about a third to 1.36 billion kroner ($196 million).

The company's many business, which help each other secure business, include Aker Solutions, Aker Floating Production, Aker Drilling, Aker DOF Supply, Aker Oilfield Services, Aker Exploration and Aker Clean Carbon.

Aker Oilfield Services was understood to be seeking ways to finance two newbuilds due to be delivered in 2010. The company jumpstarted its offshore oilfield services expansion by acquiring well intervention and marine installation companies.

Aker Exploration, at once a rig operator and field equity player, is about to begin earning on the Aker Barents semi-submersible rig. The company has emerged from loss to swing into profit.

Tags: Aker Solutions