The contract value is NOK 4.4 billion. Aker Stord is Hydro`s contract partner for the main installation contract. The sister company, Aker Kvaerner Elektro, will also play an important role. Aker Kvaerner Elektro will do all the electrical installation and automatisation work on the onshore plant, approximately 350 man-labour years. The contract will be booked as order intake in the third quarter 2004.

ENDS

 

 

Media:
Torbjorn Andersen, Senior Vice President, Group Communications. Tel: +1 281 250 7286

 

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

 

Supplier contact:
Svein Folgero, Procurement Manager, Aker Stord. Tel: +47 53 41 82 30

 

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.

 

Field Development Europe is a multidisciplinary and technology based organisation covering all technical and management functions for carrying out development of oil and gas fields world-wide, from wellheads to receiving terminal.

 

Aker Stord is Aker Kvaerner's assembly yard for modules and topsides for fixed and floating oil and gas production platforms. Aker Stord is within Aker Kvaerner responsible for multi discipline and mechanical construction contracts for onshore oil and gas plants in Norway. Within decommissioning of offshore structures Aker Stord has a special responsibility for methods and execution of topsides demolition.

 

Aker Kvaerner Elektro is a complete EPC supplier of electrical, instrument and telecommunications (EIT) to customers in the oil and gas processing industry onshore and offshore. The company possesses wide experience and expertise in its field and have a staff of 1,700 dedicated professionals committed to delivering optimum solutions. Aker Kvaerner Elektro is geographically co-located with our customers, and our goal is to create trust and long-term relations through being reliable, competitive, deliver quality and meet our customers' expectations.

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