The Clough Aker Kvaerner Joint Venture will perform all installation engineering and construction activities related to transportation and installation of the Angel topside module, weighing approximately 7,000 tonnes. Additional work relating to the hook-up of the topside module to the pre-installed jacket will also be undertaken.

The Angel field is located on the North West Shelf of Western Australia approximately 49 kilometres east of Woodside's North Rankin Platform.

The project will commence immediately and work towards final investment decision in January 2006. Given project sanction, the topside installation is planned for late 2007 / early 2008.

Torgeir Ramstad, President of Aker Marine Contractors said, "We are delighted to be given the opportunity to repeat the success of the Bayu Undan project, where the complementary technologies, solutions and strengths of Clough and Aker Kvaerner respectively will be fully exploited. We are committed to ensuring a safe and timely execution in close cooperation with Woodside."

David Singleton, CEO and Managing Director of Clough Limited said, "It is pleasing to see the joint venture between Clough and Aker Kvaerner continues to be a successful combination. In 2003, the joint venture successfully completed the floatover of the Bayu Undan topsides. 

It is exciting to continue our relationship with Woodside and we look forward to working on this important project."

The contracting entity is an equal joint venture between Clough Projects Australia Pty Ltd and Aker Marine Contractors Pty Ltd.

ENDS

 

Media:
Torbjørn Andersen, SVP Group Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mob: +47 928 85 542

Torgeir Ramstad, President, Aker Marine Contractors, Tel.: +47 22 94 55 05, Mob: +47 915 98 690

Investor relations:
Lasse Torkildsen, Vice President, Aker Kvaerner, Group Comms. Tel: +47 67 51 30 39

 

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.

 

Aker Marine Contractors provide marine operational and contracting services to the oil and gas industry world-wide. These services include concept development, detail engineering, procurement, fabrication, and the performance of marine operations such as sub-sea construction and installation activities. Aker Marine Contractors shoulder the responsibility for substantial values, especially when towing and installing floating facilities, gravity base structures, and platform decks. Aker Marine Contractors together with partners possess the competence and the specialised equipment needed to successfully plan, engineer, and install subsea structures, risers, umbilicals, flowlines and mooring systems in ultra deep waters.

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

 

Notes to Editors:
Clough is one of Australia's largest multi-disciplinary engineering, construction and asset management groups.  The Company operates globally in industry sectors including onshore and offshore oil and gas, petrochemicals, minerals, infrastructure and property. Clough has significant capability in project management, engineering services, construction, installation, commissioning, operations and maintenance.