Aker Kvaerner is providing the basic engineering design, together with certain offshore equipment, from its offices in the Netherlands. GuangXi is an integrated refinery complex with downstream facilities for the production of a wide range of products. The new Polypropylene plant will have a capacity of 200,000 metric tons per annum (tpa). Plant start-up is expected in 2008.

The project will utilise The Dow Chemical Company's UNIPOL(TM) polypropylene technology, one of the core technologies in the Aker Kvaerner process portfolio.

This additional Polyolefins project places Aker Kvaerner amongst the world leading contractors in this field. Wim van der Zande, President of AK Process, said, "We are delighted to be working on this new project for PetroChina, a key client for Aker Kvaerner and one of the largest producers of petrochemical products in China.

"We're already involved with their new full density Polyethylene plant at the Dushanzi complex in Xinjiang province. Given our in-depth experience across a large proportion of the UNIPOL(TM) PP lines around the world, coupled with our considerable local knowledge of working in the Chinese market, we are well placed to execute this project to a high quality and on schedule," he added.

The success of the Dow UNIPOL(TM) PP process, which involves production of polypropylene in a low pressure gas phase reactor, places Dow among the world leaders in polypropylene technology. The total number of UNIPOL(TM) PP lines either installed or under construction around the world is now over 40. Of these, 8 have been designed and/ or built by Aker Kvaerner, making the company one of the most experienced UNIPOL(TM) PP contractors in the industry.

ENDS

 

 

Media: UK: Vanessa Mourant, Communications Manager - E&C Europe, Aker Kvaerner, Tel: +44 (0) 207 339 1064 Mob: +44 (0)7771 806566

Netherlands: Wim van der Zande, Aker Kvaerner, Zoetermeer, Tel: +31 (0)79 368 8434

 

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

 

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 the Aker Group (www.akerasa.com), a leading multi-industry powerhouse with more than 55 000 employees and NOK 80 billion revenues. Aker owns 40.1 percent of Aker Kvaerner, and the group is also a major European shipbuilder and a significant participant in the fisheries industry.

 

AK Process is a trading name of Aker Kvaerner Netherlands B.V., a wholly owned subsidiary of AKER KVAERNER ASA and the legal entity responsible for the execution of the work. AK Process serves the chemicals and polymers, refining and onshore oil & gas industries.  It provides the full life cycle of a project from concept studies, through to design, engineering, project management, delivery of process technologies, procurement, construction and maintenance services. As a pure project execution/EPC specialist, AK Process can provide customers with strategic 'one-off' services or full turnkey solutions under a single project management control. It works with its customers in the development of major technological innovations, having participated in the conceptualisation and implementation of ideas, which are the foundation for world-class production facilities. Also offered are consultancy services in reliability, business modelling and environmental, health, safety and risk management.

PetroChina Company Limited (PetroChina) was established in 1999 as part of the restructuring of China National Petroleum Corporation (CNPC). In the restructuring, CNPC injected into PetroChina most of the assets and liabilities of CNPC relating to its exploration and production, refining and marketing, chemicals and natural gas businesses. PetroChina, now one of the largest companies in the PRC in terms of sales, is engaged in a broad range of activities related to petroleum and natural gas. PetroChina has for nine regional petrochemical companies: Daqing Petrochemical company, Jilin Petrochemical Company, Lanzhou Petrochemical Company, Fushun Petrochemical Company, Liaoyang Petrochemical Company, Daqing Refining Company, Dushanzi Petrochemical Company, Urumqi Petrochemical Company, and Ningxia Petrochemical Company. It also takes care of the chemical industrial business of regional companies. It is currently one of the largest producers of petrochemical products in China. Major chemical products include: synthetic ethylene, polyolefins, synthetic fibre, synthetic rubber, and chemical fertilizer.

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