Aker Kvaerner awarded subsea umbilical contract for Helix Energy Solutions in the Gulf of Mexico

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1 June 2007 - Aker Kvaerner has been awarded a USD 14 million contract to supply subsea umbilicals to Helix Energy Solutions through its subsidiary Energy Resource Technology, Inc. This contract inlcudes engineering and project management for the Noonan development project in the Gulf of Mexico.


Aker Kvaerner will supply main and infield Electro / Hydraulic umbilicals for Helix's Noonan project in the Gulf of Mexico. The Noonan field is the Garden Banks Block 506 located approximately 230 kilometres (145 miles) offshore from Galveston, Texas at a water depth of 820 metres (2 700 feet).


"The advantages of Aker Kvaerner's world leading dynamic umbilical technologies are clear - they are enabling solutions for deepwater fields and have become increasingly important as we move into deeper waters.  Our umbilical facility in the Gulf of Mexico has a proven track record in the execution and delivery of these advanced subsea umbilicals," says Raymond Carlsen, Executive Vice President, Aker Kvaerner Subsea.


The umbilical project management, engineering, and manufacturing will be performed at the Aker Kvaerner Mobile, Alabama, USA facility. Delivery is scheduled for January 2008.


Aker Kvaerner has extensive experience delivering subsea umbilicals from the state-of-the-art facility in Mobile, Alabama. This facility has delivered more than 1 200 kilometres (770 miles) of subsea umbilicals to various clients since the start of operations in the Gulf of Mexico in 2003.


ENDS
 
For further information, please contact:
 
Media:
Erik Wiik, President - Americas, Aker Kvaerner Subsea.  Tel: +1 713 685 5891

Torbjørn S. Andersen, SVP Group Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mob: +47 928 85 542
 
Investor relations:
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39
 
Suppliers:
For further information about sourcing and potential subcontracts for this project, please contact
Ron Mitchell, Vice President, Supply Chain US Aker Kvaerner Subsea. Tel: +1 713 685 5813


 
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 comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals and Power Generation. The Aker Kvaerner group is organised in 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 Kvaerner has aggregated annual revenues of approximately NOK 50 billion and employs approximately 23 000 people in about 30 countries.


Aker Kvaerner is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine-resources industries. The Aker companies share a common set of values and long traditions of industrial innovation. As an industrial owner with a 40.1 per cent holding in Aker Kvaerner, Aker ASA takes an active role in the development of its holdings.
 
Aker Kvaerner Subsea is a leading provider of a complete range of surface and subsea solutions for the oil and gas industry - from concept screening and design through manufacturing, fabrication and commissioning. Aker Kvaerner Subsea's ability as a world-wide total system provider is backed by a wide portfolio of products which are maintained for the complete life of field. Aker Kvaerner Subsea's capability is available for both new and existing fields either as individual activities or complete packages.



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

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