13 February 2008 - StatoilHydro has awarded Aker Kvaerner a contract for modifications of the Troll C platform. The object of the Troll low pressure production (LPP) is to facilitate increased oil recovery on Troll West called "long term production". The contract is a full EPCI contract covering all engineering disciplines. The contract value is approximately NOK 450 million and project completion is scheduled for January 2010.

"By awarding this contract StatoilHydro shows their confidence in the Aker Kvaerner's ability and competence to execute large modification contracts. We are very proud of being awarded this contract and to deliver a high quality project, says Jens Jacob Smedegaard, Vice President of Aker Kvaerner Offshore Partner in Bergen, Norway.   

The contract for the Troll LPP modification project awarded by StatoilHydro to Aker Kvaerner will be managed by Aker Kvaerner's regional office in Bergen, Norway. Design and procurement work will comence immediately. Pre-fabrication of steel and piping will start in October 2008 at Aker Kvaerner Egersund. The contract also includes a 400 tonnes compressor module that shall be installed at Troll C platform during August 2009. The offshore installation work is planned for execution during 2009.

The Troll C platform is one of the assets included in Aker Kvaerner long term maintenance and modification contract with StatoilHydro.

Maintenance and modification services is one of the core competencies of Aker Kvaerner and is a key strategic area for the company in the North Sea and internationally. Aker Kvaerner has broad knowledge and experience within this market segment through long term contracts and execution of modification projects for the operating companies.

ENDS

 

 

Media:

Jannik Lindbæk jr., SVP Corporate Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mob: +47 977 55 622

Bjørn Øistein Bergseth, VP Business Development and Communications, Aker Kvaerner MMO, Tel. +47 51 89 75 74, Mob: +47 900 23 626

 

Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39, Mob: +47 911 37 194

 

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 24 000 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 40.27 percent holding in Aker Kvaerner, Aker ASA takes an active role in the development of its holdings.

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