"We have been working on this project for nearly two years and it is a big recognition to be rewarded the EPcma contract from BP. Aker Kvaerner has a long track record, providing the majority of the floating production, storage and offloading vessels (FPSOs) in the North Sea. This experience and competence enable us to execute this job for BP," says Pål Helsing, executive vice president for the Field Development business area in Aker Kvaerner.

The new EPcma contract covers detail engineering and procurement work for the 16.000 ton FPSO topsides as well as construction management assistance to BP. On peak, the project will engage over 400 people from Aker Kvaerner. The production start for the field is scheduled for August 2011.

The Skarv oil and gas field was discovered in 1998, and it has taken close to 10 years to mature the field to its current stage. The FPSO will be installed in the Norwegian Sea, approximately 200 kilometres west of the Norwegian city Sandnessjøen, between the Norne field (35 kilometres to the north) and Heidrun (45 kilometres to the south) in water depths between 350 and 450 metres. The development will also include the Idun gas field discovered in 1999.

The contract parties are Aker Kvaerner Engineering & Technology AS and BP Norge AS. The Plan for Development and Operation (PDO) was submitted to the Norwegian Authorities 29 June 2007. The award is subject to final approval of the PDO by the Norwegian parliament.

ENDS

 

 

Media:
Stein Inge Liasjø, VP Communications, Aker Kvaerner. Tel: +47 67 51 30 94, Mob: +47 464 02 353

 

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

 

Suppliers:
For further information about sourcing and potential subcontracts for this project, please contact procurement manager Rune Andersen. Tel: +47 67 59 47 42

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 23 000 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 Engineering & Technology AS has about 800 employees and their main office is located at Lysaker near Oslo. The company has extensive experience and competence within development of technology and concepts, in addition to execution of larger projects. The company has been involved in the development of most oil- and gas fields on the Norwegian Continental Shelf. The company has also played an active role in several terminal and onshore projects in Norway. Aker Kvaerner Engineering & Technology is presently involved in several international projects based on their competence and products, such as LNG terminals.

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