The scope is to deliver a complete drilling installations for the Azeri-Chirag-Gunashli (ACG) Phase 3-project in the Azerbaijan sector of the Caspian Sea. The agreement is subject to project sanction and partner approval.

Comprised in the delivery is a complete drilling equipment package for one offshore platform in the Caspian Sea scheduled for delivery in Q3/2005. Maritime Hydraulics will also provide training and long term operational support in Baku, Azerbaijan.

The supply will consist of a complete package including pipe-handling equipment and drilling machinery, as well as an advanced computerised control system.

The drilling facility will be fully automated with the most advanced control system available in the market today. It will meet the most demanding requirements for safety, efficiency and working environment.

Maritime Hydraulics will be responsible for project supervision and expertise for testing and start-up of the drilling facilities. Project implementation and engineering will start in October 2004 and will be carried out in Kristiansand, Norway.

"To win this fourth contract for BP in the Caspian Sea shows that Maritime Hydraulics is one of the world's leading suppliers of such advanced solutions", says Roald Amundsen, President of the company.

Maritime Hydraulics has previously signed major contracts with BP such as at ACG Central Azeri, ACG West Azeri and ACG East Azeri in the Caspian Sea, as well as the Valhall project in the North Sea and the Thunder Horse in the Gulf of Mexico.

ENDS

 

Media:
Geir Arne Drangeid, SVP Group Communications, Aker Kvaerner. Tel: +47 913 10 458
Roald Amundsen, President, Maritime Hydraulics. Tel: +47 90 69 74 50

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

 

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 span a number of industries, including Oil & Gas production, Refining & Chemicals, Mining & Metals, Pharmaceuticals & Biotechnology, Power Generation and Pulp & Paper. Aker Kvaerner has aggregated annual revenues of approximately USD 4.5 billion and employs around 21,000 employees in more than 30 countries. The Aker Kvaerner group consists of 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.

The Products & Technologies organisation in Aker Kvaerner unites the product supply companies in the group to a strong global supplier of products and services to the oil and gas industry. The organisation covers a wide range of products from downhole services to marine equipment, topside and land based systems and equipment. Products & Technologies will focus on the united strength to provide our customers with the best solutions and services.

 

Maritime Hydraulics is a leading supplier of drilling equipment and facilities. The head office is situated in Kristiansand, Norway. The company employs 600 people, of which approximately 200 are located outside Norway. Maritime Hydraulics and Maritime Tentech joined forces in the year 2000. Maritime Hydraulics includes a project division of 100 highly skilled engineers, specialised in engineering, procurement and management of drilling facilities/modules.

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