Aker Kvaerner delivers process systems to Sonatrach

29 August 2006 - Aker Kvaerner has been awarded a contract with Sonatrach, the national oil company of Algeria, for delivery of process equipment to Sonatrach’s Hassi Messaoud facility located 650 km southwest of Algeirs. The total contract value for Aker Kvaerner is approximately USD 23 million.

The process equipment will provide electrostatic desalination and degassing of crude oil, and at the same time improve and upgrade Sonatrach’s processing capacity and equipment at the Hassi Messaoud facility.

The delivery consists of three complete skid mounted desalting trains with various ancillary systems plus on site services for the supervision, installation and commissioning of the equipment and operator training. The project will be managed by Aker Kvaerner Process Systems Canada with scheduled delivery of the equipment in the fourth quarter of 2007 and commissioning in the summer of 2008.

“We are extremely pleased to have been awarded this important contract by Sonatrach” says Michael Hambly, President of Aker Kvaerner Process Systems in Canada. “The project will be executed by our Oil Process Systems division in Calgary and is a key element of our strategic initiative to further develop key international markets for our proprietary oil and gas process technologies.”

Aker Kvaerner Process Systems Canada is based in Calgary, Alberta with four divisions, EPC, Oil Process System, Gas Process Systems and Fabrication and Service.

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 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 Process Systems is a supplier of selected process equipment for treatment of well stream, oil, gas, produced water and solids for the upstream oil and gas industry. The main product lines are mainly based on own proprietary/novel technology within, Wellstream Separation, Heavy crude treatment, Gas Conditioning, MEG Reclamation and Regeneration, Sulphate removal, VOC recovery and Sand Management Systems.

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

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