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Aker Kvaerner achieves significant subsea boosting technology milestone on Lyell


WEBWIRE

4 May 2006 - Aker Kvaerner’s pilot installation for CNR International of its innovative MultiBooster technology, the first pump of its kind to be installed subsea, has been successfully started up on the Lyell field on the UK Continental Shelf and operational since January of this year.

“We are delighted with the performance of the Aker Kvaerner MultiBooster subsea pump - so far it has met our expectations in terms of production capacity and performance,” says John Allan, Project Leader for CNR International in Aberdeen.

Aker Kvaerner’s MultiBooster subsea multiphase pump system increases oil recovery and enables longer step-out distances between subsea assets and host facilities by adding energy to the wellstream which allows for a lower well-head pressure and increased production rates. The design provides several benefits when handling multiphase flow, including a wide performance envelope and high pressure boost at high gas content.

Aker Kvaerner Subsea delivered a complete MultiBooster pump solution to CNR International in December 2005, including topside equipment, controls and condition monitoring and will continue to service the pump in the coming years. The pump system has a capacity of approximately 150,000 barrels per day and utilises Bornemann twin-screw internals and Aker Kvaerner’s system solution to provide a flexible and robust subsea solution. The modular design of the pump system allows for easier subsea installation and retrieval.

“The highlights for this boosting technology keep coming - it is being proven on Lyell, has been awarded an OTC.06 Spotlight on New Technology Award and we are delivering three more of these subsea pumps to BP in the Gulf of Mexico,” says Raymond Carlsen, executive vice president, Aker Kvaerner Subsea.

Aker Kvaerner’s multiphase boosting technology has been under development since 1998. The CNR International Lyell project is a non-profit contract for Aker Kvaerner and enjoys the funding and support of the Demo 2000 programme, a Norwegian government initiative which funds new technology development, and project partners; Statoil, Hydro, Shell, Total, Eni and CNR International. The total value of the pump development over seven years is approximately NOK 100-150 million.

ENDS

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 21 000 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 62 billion revenues. Aker owns 50.01 percent 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 Subseas’ 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 Subseas’ 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



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