The extra work will be carried out by an organisation managed by Aker Stord, drawing on expertise from Aker Kvaerner Elektro for electrical/instrumentation work and the external partner Kaefer IKM for scaffolding, insulation, and surface treatment.

"Hook up and completion demands extensive experience and expertise from both project management and the operators doing the job," says Mr. Simen Lieungh, Executive Vice President of Field Development at Aker Kvaerner.

"This is one of Aker Kvaerner's key strategic areas, and also a capability we to an increasing extent successfully offer to the market in other geographic regions," says Lieungh.

Preparations for the completion work will start immediately. Aker Kvaerner and Statoil will cooperate in planning and preparing the work that has to be done after the process barge has arrived Melkøya. The process barge has been fabricated at Dragados yard in Cadiz, Spain. According to the plan the barge will be transported to the Melkøya island on a heavy-lift vessel this summer and towed into the dock there in July.

Aker Stord was awarded the main hook-up and installation contract on Melkøya in autumn 2003 and has been working at the plant for well over a year. At present, Aker Kvaerner has a workforce of 570 on Melkøya at any time. The expansion in the scope of work for Statoil means that Aker Kvaerner will have a large number of personnel (700-800) working at Melkøya through most of the first two quarters of 2006. A large part of the workforce will come from Aker Kvaerner's locations in Stavanger and Stord on the West coast of Norway and will be shuttled back and forth to shifts at Melkøya in northern Norway.

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 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 35.6 billion and employs approximately 22,000 people in more than 30 countries.

 

Aker Stord is Aker Kvaerner's assembly yard for modules and topsides for fixed and floating oil and gas production platforms. Aker Stord is within Aker Kvaerner responsible for multi discipline and mechanical construction contracts for onshore oil and gas plants in Norway. Within decommissioning of offshore structures Aker Stord has a special responsibility for methods and execution of topsides demolition.

 

Aker Kvaerner Elektro is a complete EPC supplier of electrical, instrument and telecommunications (EIT) to customers in the oil and gas processing industry onshore and offshore. The company possesses wide experience and expertise in its field and have a staff of 1,600 dedicated professionals committed to delivering optimum solutions. Aker Kvaerner Elektro is geographically co-located with our customers, and our goal is to create trust and long-term relations through being reliable, competitive, deliver quality and meet our customers' expectations.

 

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