The company's Subsea Solutions Group has secured a contract for in excess of £5million from CNR International (UK) Ltd, to provide engineering, procurement and project management for the Banff area development project. The agreement consists of two separate scopes of work, in the Banff and Kyle offshore fields.

In order to enhance production in the Banff field, Aker Kvaerner Offshore Partner will provide a manifold structure /SSIV and other facilities as part of a plan to convert the field's 'shut-in water injection' wells to 'gas-lifted' production and to convert one of Banff's existing production wells to gas injection.

In the Kyle field, Aker Kvaerner Offshore Partner will provide facilities associated with re-routing production from one of the wells to CNR's 'Ramform Banff' FPSO (floating production, storage and offloading vessel). 'Well 14' in the Kyle field was originally planned to produce to the Banff facility, but it was eventually routed to a FPSO in the adjacent Curlew field. The original Banff to Kyle subsea pipeline / umbilical infrastructure will now be utilised to link Well 14 to the Ramform Banff.

Aker Kvaerner Offshore Partner's managing director, Harald Gulaker says the contract is an opportunity to enhance the relationship with CNR:

"Our Subsea Solutions Group has been supporting CNR throughout the Option Development and Screening phases since 2003, and this new agreement will bring our two companies even closer together. The Banff Area Development is a prime example of how innovation can maximise production and field life in the North Sea".

'First oil' from this phase of the Banff area development is anticipated in the summer of 2004.

Aker Kvaerner Offshore Partner Ltd. is one of five Aker Kvaerner companies with facilities in Aberdeen. The others are: Kvaerner Oilfield Products, Aker Kvaerner Operations, Kvaerner Process Systems, and Maritime Hydraulics.

ENDS

For further information, please contact:

Media: Paul Davis. Tel.: +44 1224 632277

 

AKER KVÆRNER ASA, through its subsidiaries and affiliates ("Aker Kvaerner"), is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner span a number of industries, including Oil & Gas production, Refining & Chemicals, Mining & Metals, , Pharmaceuticals & Biotechnology, Power Generation and Pulp & Paper. Aker Kvaerner has aggregated annual revenues of approximately USD 4.5 billion and employs around 21,000 employees in more than 30 countries.

The Aker Kvaerner group consists of a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities. The parent company in the group is Aker Kværner ASA.

 

MMO Europe (Maintenance, Modifications and Operations) is responsible for the Aker Kvaerner's MMO competencies and capacities, serving the Norwegian and UK Continental Shelf, and supporting selected international initiatives. The core competencies are turn-key deliveries offshore modifications, long term on- and offshore modification and maintenance contracts, inspection, operation and operations support, offshore removal and de-construction and subsurface advisory. MMO Europe has approximately 6,000 employees, including 2,600 engineers.

 

Aker Kvaerner Offshore Partner Ltd is a leading provider of world-class solutions in total "life-of-field" support services to the oil and gas industry. Aker Kvaerner Offshore Partner Ltd's engineering and design capability extends from front-end consultancy through operations and maintenance support, to decommissioning.  Headquartered in Aberdeen, the Group's `centre of excellence' for all UK operations, Aker Kvaerner Offshore Partner Ltd. employs 1,000 personnel and offers extensive experience of value-added solutions that have produced significant cost savings, faster project delivery and greater long-term value to our customers.

This press release may include forward-looking information or statements and is subject to our disclaimer, see our web-pages www.akerkvaerner.com