Aker Kvaerner to deliver drilling equipment to Singapore

The drillfloor equipment, mudpumps, drawworks and control systems will be installed on a newbuild jack-up rig for PT Apexindo Pratama Duta Tbk,  an Indonesian drilling contractor. Aker Kvaerner MH will also assist with the installation and commissioning.

The contract includes an option for delivery of additional drilling equipment. The value of this option is approximately NOK 15 million.

 "This is a break-through in the important offshore newbuild market in Singapore. This delivery, 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 is scheduled for June 2006. Commissioning of drilling equipment will be completed within December 2006.

For further information, please contact:


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 Kvaerner 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.
The Products and Technologies business area in Aker Kvaerner unites the product supply companies in the group to a strong global supplier of products and services to the upstream oil and gas industry. Key deliverables include drilling equipment and systems, wellstream process technology, vessel mooring equipment and offshore loading/offloading systems. Global after-sale services are provided, and other key services include well intervention technology & services and marine contracting.
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