Aker Kvaerner launches IOR tool

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14 February 2008 - Aker Kvaerner today launches the PodExTM - a new, cost-effective technology solution to the ever-growing challenge of maximising oil and gas recovery from mature subsea fields.


The PodExTM is a module that integrates new functionality and instrumentation directly into the existing subsea control system. It is a cost-effective alternative that requires very little installation time. Its ultimate aim is to optimise production at brownfield developments and enhance environmental safety.


The PodExTM utilises spare subsea electrical circuitry or co-existent power supplies to convey increased well and reservoir data to topside data acquisition systems for analysis. It is scalable and offers a transparent communication layer which is adaptable to any subsea application.


"This new solution is in sharp contrast to previous, more complex alternatives, which have required either changing or redesigning the original control system. The PodExTM instead uses existing infrastructure for power and communication," says Erik Taule, acting senior vice president of Aftermarket, Aker Kvaerner Subsea.


Another key benefit with the PodExTM is that it can be combined with controls system from all system manufacturers.


"There is an abundance of mature subsea fields around the world that can benefit from even better knowledge about their wells' behaviour and performance. The PodExTM provides the additional data needed to facilitate increased oil and gas recovery.


"Combined with our field proven processing and boosting technologies, the introduction of this latest product reconfirms our position as the world's leading provider of IOR technology for subsea developments," adds Taule.


The PodExTM will be introduced at today's Subsea 08 event in Aberdeen, UK.  The Aker Kvaerner stand is located at section B1 at the event.


ENDS
 
For further information, please contact:
 
Media:
Endre Johansen, communications manager, Aker Kvaerner Subsea. Tel: +47 22 94 58 91, Mob: +47 416 10 605, E-mail: endre.johansen@akerkvaerner.com   


Bill Phillips at the BIG Partnership. Tel: +44 (0)1224 578174, Mob: +44 (0)7970 544663.
 
Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39, Mob: +47 911 37 194
 
Suppliers:
For further information about sourcing and potential subcontracts for this project, please contact BA Global Sourcing Champion, telephone number found here: http://www.akerkvaerner.com/Internet/SuppliersCentre/Contacts/SupplyManagementContacts.htm.
 
 
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

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