The work will be executed under an alliance agreement with the Aker Kvaerner company, Aker Marine Contractors, and Maersk Supply Service who will provide the installation vessel. The marine operation, including installation of mooring system, flexible risers and umbilicals is planned in June / July 2006 with the hook-up of the "Ikdam" in August 2006. The water depth at the field is about 260 meters. The project will commence immediately.

Torgeir Ramstad, President of Aker Marine Contractors says, "We are delighted to be given this opportunity to demonstrate our capabilities in the subsea installation market, and look forward to working in close cooperation with the customer on this important assignment."

ENDS

 

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 Bjørn E. Klepsvik, tel.: +47 22 94 51 63

 

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 Kvaerner is part of the Aker Group (www.akerasa.com), a leading multi-industry powerhouse with more than 40 000 employees and NOK 60 billion revenues. Aker owns 50.01 per cent of Aker Kvaerner, and the group is also a major European shipbuilder and a significant participant in the fisheries industry.

 

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