Aker Kvaerner wins another contract on the Indian continental shelf
January 2007- Aker Kvaerner has signed a letter of intent with Aker Floating Production to deliver a complete subsea production system for a customer in India. Aker Kvaerner will also deliver the marine installation of the floating production storage and offloading (FPSO) vessel to be leased out by Aker Floating Production ASA. The total value of Aker Kvaerner's contracts is approximately USD 250 million.
Aker Kvaerner is scheduled to install the FPSO and mooring system and deliver the subsea production system by February 2008. The subsea production system will be installed at 1100-1400 meters water depth and includes trees, manifolds, controls and umbilicals.
"It is the unique combination of capabilities within the Aker Group that has secured the very important letter of intent. We are very excited about the future market potential that the Indian continental shelf represents for Aker Kvaerner and the rest of the Aker Group", says Martinus Brandal, CEO & President of Aker Kvaerner.
Aker Kvaerner Subsea will supply the subsea equipment and Aker Marine Contractors will be responsible for the installation of the FPSO and subsea equipment. Aker Kvaerner Pusnes will deliver equipment for the mooring and offloading system to the FPSO.
ENDS
For further information, please contact:
Media:
Raymond Carlsen, EVP Subsea, Aker Kvaerner. Tel: +47 67 82 62 00, Mob: +47 45411280
Torbjørn S. Andersen, SVP Group Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mob: +47 928 85 542
Investor relations:
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39
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 41.4 billion and employs approximately 23 000 people in about 30 countries.
Aker Kvaerner is part of the Aker Group (www.akerasa.com), a leading multi-industry powerhouse with more than 50 000 employees and NOK 80 billion revenues. Aker owns 50.01 percent of Aker Kvaerner, and the group is also a major European shipbuilder and a significant participant in the fisheries industry.
This press release may include forward-looking information or statements and is subject to our disclaimer, see our web-pages www.akerkvaerner.com
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