Aker Kvaerner subsea technology wins ONS innovation award

25 August 2006: Aker Kvaerner's Multibooster subsea boosting technology has won the ONS 2006 innovation award. The award follows an OTC 06 Spotlight on New Technology Award for the Multibooster earlier this year.
"20 years of innovation, technical knowledge and collaboration with our customers and partners has been invested in developing this technology - this award reflects the spirit of its evolution and great potential for our customers," says Raymond Carlsen, executive vice president, Aker Kvaerner Subsea.

Aker Kvaerner's Multibooster subsea multi-phase pump system delivers improved oil recovery and facilitates longer step-out distances between subsea assets and host facilities by lowering the pressure at the reservoir and increasing pressure in the production line. The design uses Bornemann twin-screw internals and provides several benefits when handling multiphase flow, including a wide performance envelope and high pressure boost at high gas content.

The Multibooster pump system has been installed and is operational at the Lyell field, Scotland, with two more systems under development for BP's King project in the Gulf of Mexico scheduled for start-up early next year.


For further information, please contact:
Renee Mead, Communications Manager, Aker Kvaerner Subsea. Tel: +47 67 82 6859, Mob: +47 4641 1705

Investor relations:
Lasse Torkildsen, Vice President, Aker Kvaerner, Group Comms. Tel: +47 67 51 30 39

For further information about sourcing and potential subcontracts for this project, please contact:
Roger Lunde, Vice President, Global Supply Chain, Tel:+47 32859478

Career opportunities:
Visit www.akerjobb.no

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, Pharmaceuticals & Biotechnology, Power Generation and Pulp & Paper. The Aker Kvaerner group is organised into two principal business streams, namely Oil & Gas and E&C, each consisting 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. Aker Kvaerner has aggregated annual revenues of approximately NOK 41.4 billion and employs approximately 23 000 people in more than 30 countries.
Aker Kvaerner is part of the Aker Group (www.akerasa.com), a leading multi-industry powerhouse with more than 50 000 employees and NOK 80 billion revenues. Aker owns 50.01 per cent of Aker Kvaerner, and the group is also a major European shipbuilder and a significant participant in the fisheries industry.

Aker Kvaerner Subsea 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. Aker Kvaerner Subsea's 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. Aker Kvaerner Subsea's capability is available for both new and existing fields either as individual activities or complete packages.

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