Aker Kvaerner secures large mooring and riser installation contract in Mexico

30 May 2006

Bergesen Worldwide Offshore has awarded Aker Marine Contractors AS, in partnership with Sonsub Ltd, a contract for installation of mooring and riser system for the first Floating Production, Storage and Offloading (FPSO) in the Gulf of Mexico. 30 May 06



The work comprises installation of the turret buoy, mooring system and risers for the former Ultra Large Crude Carrier BW Enterprise at the Ku-Maloob-Zaap field in Mexico, which is operated by Bergesen Worldwide Offshore. The FPSO will be the largest ever converted with storage capacity of 2,2 million barrels and a throughput of 600.000 bbls/day. Bergesen Worldwide Offshore is carrying out the conversion and will operate the FPSO on a 15 year contract with Pemex.

The marine installation is planned to commence in the 1st quarter of 2007, using either the Normand Cutter or the BOA Sub C as main installation vessel. In addition, a diving vessel will be used for tie-in of the flexible risers. The project will commence immediately.

Torgeir Ramstad, President of Aker Marine Contractors said, “We have pursued this key target for a while as we believe this challenging project is a good fit with our joint capabilities with Sonsub. The focus will now be on delivering this fast track project on time and without incident in close dialogue with our customer.”

ENDS

For further information, please contact:

Media:
Siw Anett Enerud, Communications Manager, Aker Kvaerner Products & Technologies. Tel: +47 22 94 71 92, Mob: +47 951 93 415

Torgeir Ramstad, President, Aker Marine Contractors, Tel.: +47 22 94 55 05, Mob: +47 915 98 690

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

Suppliers:
For further information about sourcing and potential subcontracts for this project, please contact Bjørn E. Klepsvik, tel.: +47 22 94 51 63

Career opportunities:
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 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 Marine Contractors provide marine operational and contracting services to the oil and gas industry world-wide. These services include concept development, detail engineering, procurement, fabrication, and the performance of marine operations such as sub-sea construction and installation activities. Aker Marine Contractors shoulder the responsibility for substantial values, especially when towing and installing floating facilities, gravity base structures, and platform decks. Aker Marine Contractors together with partners possess the competence and the specialised equipment needed to successfully plan, engineer, and install subsea structures, risers, umbilicals, flowlines and mooring systems in ultra deep waters.

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

Contact Information

Siw Anett Enerud

Communications Manager

Aker Kvaerner Products & Technologies

Contact via E-mail