The contract is for the engineering, procurement, construction, load-out and sea-fastening of the three jackets and piles.

The total contract value is approximately NOK 750 million. Through this contract award, Aker Verdal has once again demonstrated its competitiveness in a tough international jacket market.

Based on a large number of challenging jacket and heavy steel structure projects executed continuously by Aker Verdal throughout the last 15 years, the yard has developed a very streamlined and efficient project execution model for this type of project. "We have put a tremendous effort into continuously improving and refining our project execution model, and this work has resulted in great changes in our company. Today's contract award shows clearly what can be achieved when you have willingness and ability to change" says Arnstein Ansnes, President of Aker Verdal.

The Buzzard project will be executed in close co-operation between Aker Verdal and Aker Kværner Technology.

The detail engineering, which will be performed by Aker Kværner Technology, starts immediately, while the fabrication activities at Aker Verdal will start in the spring 2004.

All three Buzzard jackets will be delivered in 2005, and will be number 31, 32 and 33 in the series of jackets from Aker Verdal.

This contract has been awarded "subject to approval of the Buzzard Development" by the UK Department of Trade and Industry and the Buzzard co-venturers. Approval of the Development is anticipated before year-end.