The marine drilling riser system has a total length of 7 500 ft.

"The Chinese deepwater market has tremendous potential. Up until now most of the oil exploration in China has been in shallow waters. However, CNOOC is now taking their efforts to a new level. We are honoured that they consider our technologies best suited to match their ultra deepwater ambitions," says Raymond Carlsen, executive vice president, Aker Kvaerner Subsea.

The marine drilling riser system will be manufactured and delivered out of Aker Kvaerner Subsea's new high tech manufacturing centre in Malaysia. Delivery is scheduled for Q2, 2010. Aker Kvaerner subsidiary, Aker Kvaerner Pusnes will deliver its well-proven mooring equipment to CNOOC's drilling rig.

"We set up our manufacturing centre in Malaysia to capitalise on the expected subsea boom in the Asia-Pacific region. This first delivery to the Chinese offshore market is another proof that it was the right thing to do," says Carlsen.

Aker Kvaerner has previously announced that the company is also delivering drilling equipment and system for CNOOC's ultra deepwater drilling semi-submersible rig through subsidiary Aker Kvaerner MH.

"We are once again showing that our ability to combine efforts and deliver from several of Aker Kvaerner's business units while operating as 'one' Aker Kvaerner is something our clients find appealing. The range of products and services we offer is fairly unique. We will continue to use this to our advantage," concludes Carlsen.

ENDS

Media:
Torbjørn S. Andersen, senior vice president, Group Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mob: +47 928 85 542

Endre Johansen, communications manager, Aker Kvaerner Subsea. Tel: +47 22 94 58 91, Mob: +47 416 10 605. E-mail: endre.johansen@akerkvaerner.com

 

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

 

Suppliers:
For further information about sourcing and potential subcontracts for this project, please contact:

Harald Grieg Riisnaes, vice president, Global Supply Chain, Aker Kvaerner Subsea. Tel: +47 67 82 68 18

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.

 

Aker Kvaerner Subsea is a leading provider of a complete range of surface and subsea solutions for the oil and gas industry - from concept screening and design through manufacturing, fabrication and commissioning. Aker Kvaerner Subsea's ability as a world-wide total system provider is backed by a wide portfolio of products which are maintained for the complete life of field. Aker Kvaerner Subsea's capability is available for both new and existing fields either as individual activities or complete packages.

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