Aker Kvaerner secures GBP30 million contract from BP

The scope of work covers the provision of engineering, modifications and maintenance services at BP's Wytch Farm production and transport facility in Dorset, and at the BP CATS (Central Area Transmission System) gas terminal on Teesside, North East England. The contract includes three further two-year extension options. Around 150 personnel from the three locations will be employed on the project.

The new contract is the second to be awarded by BP to the Aker Kvaerner group in recent weeks. The first involves engineering, procurement services and construction management services for projects at several BP sites in Germany, work that is being carried out by Aker Kvaerner's European operations.

Jarle Tautra, Executive Vice President for the firm's European E&C business area, says the latest contract is cause for great celebration: "We are delighted to be working with BP in the UK, which will enable us to consolidate the relationship we are building with BP in Germany. This project represents a major opportunity for the teams at our various locations to create a flagship contract that will deliver total life-cycle engineering services to both the CATS and Wytch Farm facilities."

In operation since 1993, the CATS terminal receives and processes natural gas from the central UK Sector in the North Sea via a 400-kilometre pipeline system, which, in 2002, transported 1.7 billion cubic feet of gas a day to Teesside.

The Wytch Farm development has been producing oil and gas since 1979. The oilfield lies a mile beneath the surface of Poole Harbour in Dorset, on the south coast of England, a designated Area of Outstanding Natural Beauty. The field is being developed by extended reach drilling from an onshore site, concealed from public view, to ensure minimum impact on the environment.

For further information, please contact:

Torbjorn Andersen, SVP Group Communications, Aker Kvaerner: Tel: +47 67 51 3036 Mob: +47 928 85 542

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

Aberdeen: Gerry Davis    Tel. +44 (0)1224 590777

Stockton: Sarah Weyell Tel: +44 (0)1642 602221
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 span a number of industries, including Oil & Gas production, Refining & Chemicals, Mining & Metals, Pharmaceuticals & Biotechnology, Power Generation and Pulp & Paper. Aker Kvaerner has aggregated annual revenues of approximately USD 4.5 billion and employs around 21,000 employees in more than 30 countries.

The Aker Kvaerner group consists 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.
AK Engineering Services is the trading name of Aker Kvaerner Engineering Services Ltd., the legal entity responsible for the work.  AK Engineering Services is one of the core businesses of the Aker Kvaerner group in Europe. It provides total asset life cycle solutions including conceptual design, engineering, procurement, project management, construction and commissioning, through to operation and maintenance services, modifications and process improvements. Also offered are consultancy services in reliability, business modelling and environmental, health, safety and risk management.
MMO Europe (Maintenance, Modifications and Operations) is the business area responsible for the Aker Kvaerner's MMO competencies and capacities, serving the Norwegian and UK Continental Shelf, and supporting selected international initiatives. The core competencies are turn-key deliveries offshore modifications, long term on- and offshore modification and maintenance contracts, inspection, operation and operations support, offshore removal and de-construction and subsurface advisory.
Aker Kvaerner Offshore Partner Ltd (AKOPL) is a business unit within the MMO business area and a leading provider of world-class solutions in total "life-of-field" support services to the oil and gas industry. AKOPL's engineering and design capability extends from front-end consultancy through operations and maintenance support, to decommissioning and removal. AKOPL offers extensive experience of value-added solutions that have produced significant cost savings, faster project delivery and greater long-term value to our customers.

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