Aker Spitsbergen on contract with StatoilHydro
Aker Drilling and StatoilHydro have reached an agreement covering alloutstanding issues regarding the delivery of Aker Spitsbergen. Thedrilling starts its five-year contract with StatoilHydro as operatoron behalf of the Heidrun Åsgård and Norne licenses on August 27,2009.
Aker Spitsbergen is the second of two sixth generation drilling rigsowned by Aker Drilling and that now are ready to operate on theNorwegian continental shelf. The rigs are among the largest in theworld and are specially designed to operate safely and effectively inrough and challenging conditions and in deep waters offshore Norway.The other rig, Aker Barents, started drilling northwest ofKristiansund in Norway, before the weekend.
- These advanced rigs are products of Norwegian offshore competence.Together with knowledgeable and demanding customers the workers inseveral Aker companies have not just realised an enormous buildingproject. We have also brought to the Norwegian shelf two rigs thatwill help define future safety and environmental requirements forsuch operations, says Øyvind Eriksen, President and CEO of Aker ASA.
The rigs are designed and build by Aker Solutions. They are owned andoperated by Aker Drilling and on contract for StatoilHydro and AkerExploration. Aker has significant ownership interests in both AkerSolutions and Aker Exploration and is the only shareholder in AkerDrilling.
- StatoilHydro and companies in the Aker family have separately andtogether shaped a large part of Norwegian offshore history. Thelong-term cooperation that starts when drilling with Aker Spitsbergencommences gives this collaboration a new and exciting dimension, saysMr Eriksen.
While Aker Barents was delivered and started operations according tothe plans presented by Aker in its forth quarter 2008 report, AkerSpitsbergen has been delayed by a further few months. Statoil andAker Drilling has until recently negotiated the practical andfinancial consequences of the delays, including liquidated damages(LD) for late delivery, the cost of additional equipment and dayrates. Certain completion operations and tests still remain to becarried out before drilling operations begin. Further upgrades havebeen agreed and will be implemented at a later stage.
The additional costs and other financial consequences of theagreement with StatoilHydro have mostly been covered by gains oncurrency transactions, as reported by Aker ASA in the second quarter.Day penalties that StatoilHydro can claim from Aker Drilling make upa limited share of Aker Drillings total additional costs. Thepenalties are covered by a claim from Aker Drilling to AkerSolutions. This issue has been known to Aker Solutions and thecompany has in its previous reporting confirmed that this has beentaken into account.
- For us in Aker Drilling, this is a day to remember. We are about toput the building phase behind us and start what we have been lookingforward to for several years, safe and effective operations. Our rigsare made to find new oil and gas resources and to contribute to makethe development of these profitable to the benefit of our customersand the state, says Geir Sjøberg, CEO of Aker Drilling.
For further information, please contact:Geir Sjøberg, CEO Aker Drilling, tel: +47 51 21 49 15Geir Arne Drangeid, EVP communications Aker ASA, tel: +47 24 13 00 65
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.