"The letter of intent confirms the ongoing good cooperation", says Per Harald Kongelf, President of Kvaerner Process Systems.

The contract will cover, design, engineering and fabrication of several key systems, including a sulphate reduction package. Conceptual design will take place in Norway, whereas procurement, detailed engineering and fabrication will be carried out in Brazil using local companies.

Engineering will start immediately and delivery is estimated to take place during the 3rd quarter of 2005. 

Maua Jurong and Kvaerner Process Systems are in the completion phase of the similar P50 FPSO project which is destined for the Albacora Leste field in the same area.  The enclosed picture shows the sulphate reduction system upon delivery to Maua Jurong's yard in Caximbau, Rio de Janeiro, in February 2004.  In addition to the water injection systems, Kvaerner Process Systems also provided equipment to the P06 utility module of the P 50 development.

ENDS

 

Media:
Per Harald Kongelf, President Kvaerner Process Systems, Tel.: + 47 67 83 78 20

Investor relations:
Lasse Torkildsen, Vice President, 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 and Technologies business area in Aker Kvaerner unites the product supply companies in the group to a strong global supplier of products and services to the upstream oil and gas industry. Key deliverables include drilling equipment and systems, wellstream process technology, vessel mooring equipment and offshore loading/offloading systems. Global after-sale services are provided, and other key services include well intervention technology & services and marine contracting.

 

Kvaerner Process Systems is a supplier of selected process equipment for the treatment of well stream, oil, gas, produced water and solids for the upstream oil and gas industry, offshore as well as onshore. The main product lines are mainly based on own proprietary/novel technology within, wellstream Separation, Heavy crude treatment, Gas Conditioning, MEG Reclamation and Regeneration, Sulphate removal, VOC recovery and Sand Management Systems. A company built by the enthusiasm, pride and energy of our key asset - our people. Kvaerner Process Systems employs around 500 people world wide and is covering all the main oil and gas producing regions.

The Sulphate Reduction technology is a proprietary technology licensed from Marathon Oil Company and Dow Chemicals. The patented membranes remove sulphate ions from seawater which is injected to the reservoir to maintain reservoir pressure. If not removed, the sulphate will react with calcium and strontium in the reservoir and form scale that will reduce production efficiency. The P54 development involves a deepwater, complex subsea infrastructure and traditional scale treatment is both technically difficult and costly. The use of the sulphate reduction technology removes the cause of the problem and reduces the need for scale treatment.  In addition, reservoir souring caused by sulphate reducing bacteria in the reservoir is significantly reduced. 

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