Aker Kvaerner contract for operations of Al Zaafarana platform in Egypt
10 August 2007 - Aker Kvaerner has been awarded a contract for operation, management and maintenance of the Al Zaafarana FPSO offshore Egypt by operator Gemsa Petroleum Company and partners. The contract value is NOK 200 million for a five year contract period effective from 1 September 2007. Options for contract extensions are included in the contract.
The Al Zaafarana FPSO is located offshore Egypt in the Red Sea and is operated by Gemsa Petroleum Company (Gempetco). Produced oil is stored in the FPSO and is transported onshore by shuttle tankers. The average manning of the FPSO is approximately 25 persons. Under the new contract, personnel will be provided by Aker Kvaerner Operations and its partner Gravitas & Cie SA for the work at the Al Zaafarana FPSO.
"The award of this contract gives Aker Kvaerner Operations a foothold in North Africa and in the growing market segment of FPSO production,'' says Managing Director of Aker Kvaerner Operations, John McKeown.
Further, he says, "Gempetco has, in meetings and negotiations and now in the award of this contract, confirmed their confidence in Aker Kvaerner. We are enthusiastic to undertake this challenging contract and to develop additional opportunities in the region.''
ENDS
For further information, please contact:
Media:
Bjørn Øistein Bergseth, VP Business Development & Communications, Aker Kvaerner MMO Tel: +47 51 89 75 74, Mob: +47 90 02 36 26
Bjørn Øistein Bergseth, VP Business Development & Communications, Aker Kvaerner MMO Tel: +47 51 89 75 74, Mob: +47 90 02 36 26
Investor relations:
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39
Career opportunities:
Visit http://www.akerkvaerner.com/Internet/CareerCentre
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 40.1 per cent holding in Aker Kvaerner, Aker takes an active role in the development of its holdings.
This press release may include forward-looking information or statements and is subject to our disclaimer, see our web-pages www.akerkvaerner.com