Aker Kvaerner wins Baytown Cogeneration power plant contract with ExxonMobil

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The contract will be executed by Kvaerner Industrial Constructors (KIC) a division of Aker Kvaerner in Houston, Texas. Detailed design and major procurement items will begin immediately and construction in mid-summer 2003. Mechanical completion is scheduled for
late 2004.


Jon Erik Reinhardsen, Executive Group Vice-President of Aker Kvaerner stated, "We are very excited to have received this contract with ExxonMobil and look forward to our collaborative efforts with them."
For further information
Media:
Geir Arne Drangeid, Senior Vice President, Aker Kvaerner, Group Comms. Tel: +47 913 10 458.


Investor relations:
Tore Langballe, Vice President, Aker Kvaerner, Group Comms. Tel: +47 67 51 31 06.


Aker Kvaerner is a leading global provider of engineering and construction services, technology products and integrated solutions. Group activities span a number of industries, including Oil and gas upstream and downstream, Process, Pharmaceuticals, Metals, Power, Chemical, Pulping, Environmental technologies and Shipbuilding. Aker Kvaerner is a multi-local group of businesses with nearly USD 6 billion of annual revenues and around 33 000 employees in more than 30 countries.


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