This study examines knowledge flows and coordination problems experienced by Aker Subsea. Theories on international strategy and organizational structure are used to analyze Aker Subsea’ s knowledge governance. The subsea value chain consists of five elements: development, production, construction, installation and subsequent aftermarket services. Product groups and local service bases for specific fields and oil companies carry out these activities. Aker Subsea, as a part of Aker Solutions, has recently changed their international strategy of being a global transnational organization to becoming a regionalized international actor. Yet, the firm tries to maintain global benefits through standardizing and by keeping common procedures and processes. The new strategy contributes to an efficient knowledge flow between product groups and different service bases worldwide.