The order is for two 130 meter drilling risers and eight 130 meter production risers with options up to seven more production risers. The engineering, concept and procurement will be executed in Aker Kvaerner's office in Oslo, Norway and the fabrication of risers will be carried out at Aker Kvaerner's highly specialised pipe welding unit in Verdal, Norway.  The project commenced in November 2005 and the first riser will be delivered in October 2006, with subsequent deliveries finalised by July 2007.

"We selected Aker Kvaerner for their proven abilities in project execution," says Svein Løining, Statoil project manager for the Volve project.

"We are pleased to provide a fully integrated team, with specialist riser design and manufacturing expertise from across Aker Kvaerner, to deliver the best solution for Statoil," says Raymond Carlsen, executive vice president, Aker Kvaerner Subsea.

Aker Kvaerner has worked with Statoil since the company started exploring the North Sea in the early 1970s.

This contract was signed and booked in the fourth quarter of 2005.

ENDS

 

Media:
Renee Mead, Communications Manager, Aker Kvaerner Subsea. Tel: +47 67 82 6859, Mob: +47 4641 1705

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

Suppliers:
Kjell Garvik, VP Sales & Marketing Europe, Aker Kvaerner Subsea. Tel: +47 6782 6444, Mobile: +47 4541 1823

Career opportunities:
Visit www.akerjobs.no

 

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, Pharmaceuticals & Biotechnology, Power Generation and Pulp & Paper. The Aker Kvaerner group is organised into two principal business streams, namely Oil & Gas and E&C, each consisting 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 Kvaerner has aggregated annual revenues of approximately NOK 41.5 billion and employs approximately 20 000 people in more than 30 countries.

Aker Kvaerner is part of the Aker Group (www.akerasa.com), a leading multi-industry powerhouse with more than 40 000 employees and NOK 60 billion revenues. Aker owns 50.01 per cent of Aker Kvaerner, and the group is also a major European shipbuilder and a significant participant in the fisheries industry.

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 Subseas' 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 Subseas' 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