Statoil is planning to expand the methanol plant by 35 per cent in addition to building a gas power plant at Tjeldbergodden. The final investment decision is expected to be made by early 2006, and the operation is planned to start mid-2008.

The purpose of pre-engineering is to prepare a basis for the investment decision and to plan the next phase, says Karl Olav Jægtnes, Statoil's project director for the expansion.

Wim van der Zande, President of Aker Kvaerner Process Business: "We are extremely pleased with this award since it demonstrates the confidence that Statoil has in Aker Kvaerner's capability to successfully execute major projects. Statoil is a key client to Aker Kvaerner Process and this project is the fourth project that has been awarded in a competitive environment". 

ENDS

 

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

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.

 

E&C Europe specialises in the provision of process technology, engineering studies (including bankable feasibility and environmental studies), total project management, engineering and design, procurement, construction, commissioning and maintenance services. With nearly 5,000 people based largely from Europe, E&C Europe serves a number of industrial sectors: refining and petrochemicals, pharmaceuticals & biotechnology, onshore oil & gas, power generation, chemical pulping, nuclear, water, and mining and metals.

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