Aker Kvaerner secures floater installation contract in the North Sea

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13 April 2007 - Aker Kvaerner has signed a contract with Sevan Production Services Limited for installation of the "Sevan Hummingbird" Floating Production, Storage and Offloading unit (FPSO). The FPSO will be installed on the Chestnut field on the UK Continental Shelf, which is operated by Venture Production. The total contract value for Aker Kvaerner is approximately NOK 145 million.


Sevan Marine has developed a cylindrically shaped platform type. The Sevan hull form  may be applied as a an FPSO, a drilling unit or other type applications.


The work will be undertaken by the Aker Kvaerner subsidiary Aker Marine Contractors and comprises pre-installation of the platform mooring system, as well as tow and hook up of the platform named "Sevan Hummingbird".


The platform will be installed on the Chestnut field approximately 200 km East-North East of Aberdeen in the UK sector of the North Sea. The water depth is 123 meters.


The installation of the platform mooring system is planned to commence in May 2007 using the offshore construction vessel BOA Sub C. 


The tow and hook up of the platform is planned to commence in September 2007.


The platform will then be towed from Rotterdam where it is being outfitted, to the Chestnut field where it will be hooked up to the pre-installed mooring system.


The contract was booked in first quarter of 2007.


ENDS
 
For further information, please contact:
 
Media:
Siw Anett Enerud, Communication manager, Aker Kvaerner Products & Technologies. Tel: +47 22 94 71 92 Mob: +47 951 93 415


Torgeir Ramstad, President, Aker Marine Contractors, Tel.: +47 22 94 55 05, Mob: +47 915 98 690
 
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 Richard Reynolds, Vice President Supply Management. Tel.: +44 1224 424868
 
 
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 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 40.1 per cent holding in Aker Kvaerner, Aker takes an active role in the development of its holdings.
 
Aker Marine Contractors provide marine operational and contracting services to the oil and gas industry world-wide. These services include concept development, detail engineering, procurement, fabrication, and the performance of marine operations such as sub-sea construction and installation activities. Aker Marine Contractors shoulder the responsibility for substantial values, especially when towing and installing floating facilities, gravity base structures, and platform decks. Aker Marine Contractors together with partners possess the competence and the specialised equipment needed to successfully plan, engineer, and install subsea structures, risers, umbilicals, flowlines and mooring systems in ultra deep waters.


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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