The two deepwater marine drilling riser systems will be used for two drilling units - a drillship and a semi rig - that DSME is building. Each riser system will have a length of 7 500 ft.

"DSME is a company that builds a significant amount of drilling units for deepwater and ultra-deepwater conditions. Our deepwater drilling riser technology is therefore a good match for DSME's ambitions and know-how. We are very pleased to sign our first contracts with them," says Svein Haug, senior vice president Umbilical & Riser, Aker Kvaerner Subsea.

The drilling riser systems will be manufactured and delivered out of Aker Kvaerner Subsea's new high tech manufacturing centre in Malaysia. Buoyancy modules will be manufactured by Aberdeen-based Phoenix Polymers International Ltd, a company which Aker Kvaerner acquired a controlling 50 per cent stake in June last year.

Delivery of both drilling riser systems is scheduled for 2010. The contracts have been booked as order intake in Q4, 2007.

Aker Kvaerner has earlier (9 November 2007) announced that subsidiary Aker Kvaerner MH in Kristiansand, Norway, will deliver drilling equipment packages to DSME's two drilling units.

ENDS

 

 

Media:
Endre Johansen, communications manager, Aker Kvaerner Subsea. Tel: +47 22 94 58 91, Mob: +47 416 10 605, E-mail: endre.johansen@akerkvaerner.com

 

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

 

Suppliers:
For further information about sourcing and potential subcontracts for this project, please contact:

Harald Grieg Riisnaes, vice president, Global Supply Chain, Aker Kvaerner Subsea. Tel: +47 67 82 68 18

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 24 000 people in about 30 countries.

Aker Kvaerner is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine-resources industries. The Aker companies share a common set of values and long traditions of industrial innovation. As an industrial owner with a 40.27 percent holding in Aker Kvaerner, Aker ASA takes an active role in the development of its holdings.

 

Aker Kvaerner Subsea is a leading provider of a complete range of surface and subsea solutions for the oil and gas industry - from concept screening and design through manufacturing, fabrication and commissioning. Aker Kvaerner Subsea's ability as a world-wide total system provider is backed by a wide portfolio of products which are maintained for the complete life of field. Aker Kvaerner Subsea's capability is available for both new and existing fields either as individual activities or complete packages.

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