Aker Kvaerner awarded drilling system contract
22 March 2006 - Aker Kvaerner has been awarded a contract with Discoverer Invest Ltd in Singapore for delivery of drilling systems and equipment to a Frigstad D90 ultra deepwater semi-submersible drilling rig. The total contract value for Aker Kvaerner is approximately NOK 450 million.
“We selected Aker Kvaerner MH for their proven experience of high efficient drilling systems,” says Harald Frigstad, CEO of Discoverer Invest Ltd.
The drilling package will consist of a dual version of the RamRig, an advanced drilling system developed by Aker Kvaerner. This system enables significantly more efficient drilling operations compared with conventional systems, particularly in deep waters.
“To be once again entrusted to deliver an advanced deepwater rig clearly demonstrates the strength of Aker Kvaerner’s MH technology and capabilities within the drilling rig market. This contract marks yet another important reference for us”, says Roald Amundsen, President of Aker Kvaerner MH.
The deepwater semi-submersible drilling rig is scheduled for delivery in 2009.
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 20 000 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 40 000 employees and NOK 60 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 MH is a market leader in designing drilling equipment and drilling facilities. The company is recognised for developing new technology for deepwater drilling based on field-proven drilling equipment. Aker Kvaerner MH provides the international onshore and offshore industry with complete drilling equipment packages/modules (drilling and/or mud related systems, RamRig or conventional), full range of itemised drilling equipment, well intervention packages, drilling support modules, drilling control system, and monitoring systems as well as land rigs packages, workover rigs and products. Aker Kvaerner MH’s competitiveness is based on a unique combination of equipment deliveries, project execution capabilities and excellent after sales service.
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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