"In addition to servicing work arising from current and future clients, Aker Kvaerner intends to develop the office as a centre of engineering excellence to execute cross-border work for our Norwegian sister companies and clients," adds Richard Strachan, operations director with Aker Kvaerner Offshore Partner Ltd.

Based in Stockton for more than 100 years, and with a well-established portfolio of clients and vast project expertise, Aker Kvaerner has a long-standing commitment to the Teesside area. With a workforce of some 1000 based in Stockton, Aker Kvaerner's Engineering Services business provides life cycle services to a wide range of industrial clients, including chemical, nuclear, water, energy, pharmaceutical, refinery plants, and nonferrous metals and minerals processing. The establishment of the upstream oil and gas office by sister company, Aker Kvaerner Offshore Partner Ltd, builds upon this long-term commitment.

To help convert that commitment into an engineering office delivering value for large numbers of new and established offshore operators, Aker Kvaerner will require engineering and support services professionals who match the Group's core values of customer drive, hands-on execution, commercial edge, openness and honesty, HSE Mindset and developing people. Initially, there will be around 15 employees within the office, servicing the upstream oil & gas sector, with plans to increase this to some 50 employees in the early stages of 2006. There will be a small number of people relocated from the Aberdeen office with most of the recruitment coming via new employees from the region.

Aker Kvaerner is an international engineering, construction and services organisation employing more than 22,000 people in 30 countries.

ENDS

 

 

Media: UK: Zoe Corsi, The Big Partnership, Tel:  +44 (0)1224 224433

1.        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.

2.        Aker Kvaerner Offshore Partner Ltd, is a leading provider of world-class solutions in total "life-of-field" support services to the oil and gas industry. Aker Kvaerner Offshore Partner's engineering and design capability extends from front-end consultancy and field development, through modifications, maintenance and operations support, to decommissioning and removal.  The company covers all engineering disciplines, procurement, materials management and project management. Aker Kvaerner Offshore Partner Limited has some 1,500 employees and is headquartered in Aberdeen, with a regional office in Great Yarmouth.

3.        Aker Kvaerner Engineering Services Ltd, a wholly owned subsidiary of AKER KVAERNER ASA. Aker Kvaerner's Engineering Services business 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.

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