Aker Kvaerner's subsea company Kvaerner Oilfield Products (KOP), will deliver engineering, procurement and construction of two wellhead and subsea production tree systems, two production guide bases, protection structures, production control system, tie-in and connection systems and future expansion. Design, fabrication and testing will be carried out by KOP's project team located in Lysaker, Tranby and Egersund in Norway and in Aberdeen, UK, through 2005 and 2006 with delivery between December 2005 and April 2006.

The contract is based upon the frame agreement for subsea equipment between Norsk Hydro and KOP. The Vilje project will be run in parallel with the newly awarded Fram Øst development. Both of these developments are representing an expanding market of cost-effective tie-back solutions for marginal fields to existing or developing processing facilities and infrastructure in the North Sea. The synergies between the two projects will also result in technology improvements that will be used for this project as well as future prospects.

The Vilje field, PL036, is located in the North Sea and will be tied back to the Alvheim production facilities 19 km away. The selected concept for development of Vilje is a two satellite well daisy chained arrangement with approximately 50 m separation. Vilje is a small oil field with reserves of around 50 million barrels of oil and production start is planned for 1 Februry 2007.

ENDS

 

 

Media:
Torbjørn Andersen, SVP Group Communications, Aker Kvaerner. Tel: +47 64 51 30 36 or Mob: +47 92 88 55 42

Kjell Garvik, VP Sales and Marketing Europe, KOP. Tel: + 47 67 82 64 44

 

Investor relations:
Lasse Torkildsen, VP Investor Relations, Aker Kværner ASA, 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 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.

 

Subsea is one of six business areas in Aker Kvaerner and is headed from Houston. Aker Kvaerner is a leading provider of subsea systems for oil and gas production. We support all aspects of a subsea field development from initial concept screening through front-end engineering, detail design, procurement, fabrication and manufacturing, assembly and test, installation, commissioning and life of field support.

 

Kvaerner Oilfield Products 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. Kvaerner Oilfield Products' 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. Kvaerner Oilfield Products' capability is available for both new and existing fields either as individual activities or complete packages. Eureka Pump Systems, as part of Kvaerner Oilfield Products, has extensive project, engineering and production resources offering specialised pumping technology and products to the offshore, FPSO and subsea markets world wide. Eureka Pump Systems also serves the global subsea market with a complete range of Subsea Boosting products.

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