The derricks will be placed on production platforms offshore the Sakhalin Island north of Japan. The project starts up immediately, and the delivery is scheduled for the end of 2004.

 

"Varco has traditionally been one of Maritime Hydraulics' competitors within the field of drilling structures, however the company has now decided to leave this market, thus providing Maritime Hydraulics with new opportunities, says Sales Manager Vidar Skjelbred optimistically. He adds that the engineering will take place at Dvergsnes in Kristiansand, Norway, whereas the construction will be carried out at subcontractors' facilities.

Aker Kvaerner has won a number of contracts with Sakhalin Energy Investment Co. and is already well established at the Sakhalin Island with an ongoing project including engineering, procurement, management and project services for two platform substructures.

ENDS

 

Roald Amundsen, President, Maritime Hydraulics. Tel: +47 90 69 74 50

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