Aker Kvaerner was in 2003 and 2004 awarded three separate contracts for the Ormen Lange project at Nyhamna on the west coast of Norway. One contract was for the engineering, procurement and project management support for the onshore plant. A second contract was for the engineering, procurement and construction activities for the gas reception and export area. It also included the slug catcher, the flare tower and emergency shut down valves for the gas terminal. The third was the main installation contract. Originally the contract value for these three contracts was approximately NOK 7.35 billion. The contracts have now been merged into one EPC (engineering, procurement and construction) contract. The new contract will optimize the execution of the project, with Aker Stord as the contract partner with Hydro.

ENDS

Media:
Torbjørn Andersen, SVP Group Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mobile phone: +47 928 85 542

Investor relations:
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner. 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 22,000 people 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 terminals.

 

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.

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