The total contract value for Aker Kvaerner related to SMART 1 is now approximately NOK 610 million, representing an increase of NOK 430 million since November 2006.

The scope of work which will be undertaken by the Aker Kvaerner subsidiary Aker Kvaerner Process Systems includes delivery of two separation modules, one utility module and two skids for the flare system.

"We are proud to have been awarded this important contract. The award confirms our position and ambitions for technology deliveries to the global FPSO market" says Mads Andersen, Executive Vice President in Aker Kvaerner.

"Our first FPSO will be installed on the MD-6 field offshore India. We are pleased to have Aker Kvaerner onboard contributing to our delivery to Reliance Industries Ltd of India" says Svein Olsen, President & CEO of Aker Floating Production.

The modules will be fabricated in Dubai and installed on the FPSO in Singapore. The delivery from Aker Kvaerner is expected in third quarter of 2007.  Engineering, procurement and fabrication follow-up is carried out by Aker Kvaerner's Process Systems office in Oslo.

ENDS

 

 

Media:
Siw Anett Enerud, Communications Manager, Aker Kvaerner Products & Technologies. Tel.: +47 95 19 34 15

 

Investor relations:
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39

 

Suppliers:
For further information about sourcing and potential subcontracts for this project, please contact Richard Reynolds, vice president global supply chain. Tel.: +44 1224 424868

 

Career opportunities:
Visit http://www.akerkvaerner.com/Internet/CareerCentre

 

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 and Power Generation. The Aker Kvaerner group is organised in 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 50 billion and employs approximately 23 000 people in about 30 countries.

Aker Kvaerner is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine-resources industries. The Aker companies share a common set of values and long traditions of industrial innovation. As an industrial owner with a 40.1 per cent holding in Aker Kvaerner, Aker ASA takes an active role in the development of its holdings.

 

Aker Kvaerner Process Systems is a global supplier of selected advanced process equipment and modules for treatment of well stream, oil, gas, produced water and solids for the upstream oil and gas industry. The product lines are mainly based on own proprietary/novel technology within, wellstream separation, heavy crude treatment, gas conditioning, MEG reclamation and regeneration, sulphate removal, VOC recovery, sand management systems and produced water treatment.

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