Aker Kvaerner awarded two significant subsea contracts in Brazil

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14 December 2007 - Aker Kvaerner has been awarded two contracts from Petrobras to supply a total of three subsea manifolds for two of the Brazilian oil giant's projects offshore Brazil. Combined contract value is approximately USD 90 million.


Aker Kvaerner Subsea in Brazil will design, manufacture and deliver two oil production manifolds for Petrobras' Albacora RWI project in the Campos Basin, and one gas export pipeline-end manifold to the Jubarte phase II project. All manifolds are designed and qualified for use at water depths up to 2000 metres.


Work for both projects will be managed and completed from Aker Kvaerner Subsea's facility in Curitiba, Brazil. Deliveries are scheduled to start up in 2009 for the Albacora RWI project and in 2010 for Jubarte. Aker Kvaerner Subsea in Aberdeen, UK, will supply control systems for the projects, while offices in Norway and India will support with system engineering resources.


"We are very pleased to be chosen as Petrobras' partner on these key projects", says Marcelo Taulois, president, Aker Kvaerner Subsea in Brazil.


"The contracts are the result of a regional strategy put together three years ago", adds Taulois. "The aim of this strategy was to break into the almost captive manifolds market in Brazil, primarily focusing the design and fabrication of less complex subsea structures. The end result is not only two significant contract awards, but also the development of unique deepwater expertise and competitive engineering solutions within this area."


The manifolds for the Albacora field will allow the collection of enhanced oil recovered from distant wells due to the implementation of an innovative technology named Raw Water Injection (RWI) developed by Petrobras' research center, CENPES. The scope of work comprises two four-slot manifolds operated through an integrated multiplexed control system, multiple vertical connection modules and several individually retrievable modules such as control, production, crossover, pig detector and flow metering. A complete set of tools, accessories and spares will also be delivered.


The manifold for the Jubarte II project will be deployed at 1193 metres water depth and hooked onto the Sul Capixaba gas export pipeline, Espírito Santo basin. The manifold will act as the key element to the functionality of the Sul Capixaba gas export system, collecting gas not only from Jubarte field, but also from the Catuá, Baleia Azul, Cachalote, Caxaréu, Pirambu, Ostra, Abalone, Nautilus and Argonauta fields.


The scope of work for the Jubarte project comprises one subsea gas export pipeline-end manifold with six slots, a multiplexed data acquisition and monitoring system, 6-inch and 10-inch vertical connection modules, individually retrievable gas production and pig deviation modules, plus complete sets of tools, accessories and spares.


Aker Kvaerner has extensive experience delivering subsea equipment in Brazil, having delivered more than 130 subsea trees to Petrobras since starting its Brazilian operation in 1995.


ENDS
 
For further information, please contact:
 
Media:
Marcelo Taulois, president, Aker Kvaerner Subsea Brasil , + 55 (41) 3227-8402.


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


Endre Johansen, communications manager, Aker Kvaerner Subsea. Tel: +47 22 94 58 91, Mob: +47 416 10 605, E-mail: endre.johansen@akerkvaerner.com
 
Investor relations:
Lasse Torkildsen, senior vice president, Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39
 
Suppliers:
For further information about sourcing and potential subcontracts for this project, please contact:


Harald Grieg Riisnaes, vice president, Global Supply Chain, Aker Kvaerner Subsea. Tel: +47 67 82 68 18


 
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 24 000 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 40.27 percent 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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