Aker Kvaerner MH, formerly named Maritime Hydraulics, will deliver drillfloor/derrick equipment, BOP handling equipment and control systems to be installed on four identical newbuild jack-up rigs. Aker Kvaerner MH will also assist with the installation and commissioning.

The jack-ups will be targeting the high-end international drilling market, and are the most advanced that have been built to date. Aker Kvaerner MH's scope of work includes computer controlled, highly automated drilling sequencing technology and sophisticated
Torquemaster (TM) (Casing Roughneck) pipehandling machinery.

"This order is a break-through towards Maersk Contractors jack-up fleet, and confirms Aker Kvaerners MH's position in the high end drilling market. This  delivery, to a high quality and well respected drilling contractor and also to one of the largest yards in Singapore, strengthens our position in the international newbuild market", says Roald Amundsen, President of Aker Kvaerner MH.

The project will start immediately, and the delivery of equipment for the first rig is scheduled for June 2006.

ENDS

 

Media:

Torbjørn Andersen, SVP Group Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mob: +47 928 85 542

Roald Amundsen, President Aker Kvaerner MH, Tel.: + 47 38 05 74 86

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

 

Notes to Editors:
Aker Kvaerner's subsidiary, Maritime Hydraulics has changed its name to Aker Kværner MH AS.

 

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.

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.

 

Aker Kvaerner MH is a market leader in design of drilling equipment and drilling facilities. The company is recognised for its development of new technology for deepwater drilling based on field-proven drilling equipment. Aker Kvaerner MH provides the international onshore and offshore industry with complete drilling equipment packages/modules (Drilling and/or mud related systems, RamRig or conventional), full range of itemised drilling equipment, well intervention packages, drilling support modules, drilling control system and monitoring systems as well as land rigs packages, workover rigs and products. Aker Kvaerner MH's competitiveness is based on a unique combination of equipment deliveries, project execution capabilities and excellent after sales/service.

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