The contract for installation of the mooring system and connection of the FPSO in water depth of 1,000 metres will be performed off Ivory Coast, West Africa.

The scope of work includes operations planning, transport of the mooring system from Aker Marine Contractors' base at Stavanger to the BAOBAB field, pre-installation of the anchors and the bottom chain. Upon delivery of the FPSO at site, connection of a polyester segment in each line will be completed during hook-up of the FPSO.

The vessel to be used is the recently delivered BOA Deep C deep-water construction vessel and operations are planned for first quarter 2005.

"This contract confirms the capabilities of Aker Marine Contractors as a deep-water mooring installation contractor and is a proof of BOA Deep C's competitiveness in the West of Africa deep-water market", states Aker Marine Contractors' President Anne Mürer.

ENDS

 

Media:
Geir Arne Drangeid, SVP Group Communications, Aker Kvaerner. Tel: +47 67 51 30 36

Anne Mürer, President Aker Marine Contractors, Tel : +47 22 94 52 67

Investor relations:
Tore Langballe, Vice President, Aker Kvaerner, Group Comms. Tel: +47 67 51 31 06

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.

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.

 

Aker Marine Contractors provides marine contracting services to the oil and gas industry world-wide. These services include concept development, detail engineering, procurement, fabrication related to marine operations and subsea installations. We shoulder the responsibility for great values, especially when we tow and install platforms, gravity base structures, floaters and platform decks. Our key reference projects are proof of our ability to successfully perform complex marine operations on site, on time and within budget. Aker Marine Contractors possesses the competence and the specialised equipment needed to successfully engineer and install subsea structures, risers, umbilicals, flowlines and mooring systems in ultra deep waters. Our North Sea experience within marine contracting together with our strong owners make us particularly well qualified to create value for our customers and compete in the world markets.

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

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