28 March 2007 - BP Norge AS has awarded Aker Kvaerner a service contract for provision of personnel and equipment for well intervention services for the Ula, Valhall, Hod, Tambar and Skarv fields on the Norwegian Continental Shelf. The contract is for a firm period of five years plus a two year optional period. The estimated contract value for the initial five years is NOK 175 million.

The scope of work comprises mechanical wireline services, wireline tractor services and cased hole logging services. The work will be undertaken by the Aker Kvaerner subsidiary, Aker Kvaerner Well Service in Stavanger.

Since the Ula field came onstream in 1986, Aker Kvaerner Well Service has provided well intervention services to BP. "The award of this contract offer the possibility for Aker Kvaerner to continue its good cooperation and working relationship with BP. Together we have built a strong and confident team within slickline, data acquisition and wireline tractor services. This new, long-term contract gives us the possibility to jointly develop and implement new intervention technologies to further enhance safety and increase operational efficiency", says Ole Petter Thomesen, president of Aker Kvaerner Well Service.

ENDS

 

 

Media:
Siw Anett Enerud, Communication Manager, Aker Kvaerner Products & Technologies. Tel: +47 22 94 71 92 Mob: +47 951 93 415

Ole Petter Thomesen, President Aker Kvaerner Well Service. Mob.: 982 96 990

 

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

 

Suppliers:
For further information about sourcing and potential subcontracts for this project, please contact Bjørn E. Klepsvik, tel.: +47 22 94 51 63

 

Career opportunities:
Visit http://www.akerkvaerner.com/Internet/CareerCentre

 

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 the Aker Group (www.akerasa.com), a leading multi-industry powerhouse with more than 55 000 employees and NOK 80 billion revenues. Aker owns 40.1 percent of Aker Kvaerner, and the group is also a major European shipbuilder and a significant participant in the fisheries industry.

 

Aker Kvaerner Well Service is Aker Kvaerner's Centre of Excellence for Well Intervention technology. The company is a principle supplier of Wireline, Tractor and Cased Hole Logging Services to the technology oriented North Sea oil and gas industry. Aker Kvaerner Well Service is experienced in the management and execution of integrated well service contracts. Aker Kvaerner Well Service specialises in mechanical wireline operations and data acquisition for all cable sizes.

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