Aker Kvaerner awarded mooring systems contracts

17 October 2006 - Aker Kvaerner has recently been awarded contracts for the delivery of advanced mooring systems with a total contract value of NOK 200 million. The contracts comprise deliveries both to the offshore and marine industry.

The work is undertaken by the Aker Kvaerner subsidiary Aker Kvaerner Pusnes in Arendal.

The awards include delivery to the two advanced Aker Drilling H6e semi-submersible rigs to be built at Aker Kvaerner Stord and to five deepwater semi-submersible rigs to be built at Jurong’s shipyard in Singapore.

Leif Haukom, president of Aker Kvaerner Pusnes, says, “Strong markets and competitive solutions have further given Aker Kvaerner Pusnes marine deck machinery orders for 60 new merchant vessels in the third quarter of 2006”. Delivery will mainly be to yards in Korea and China. On yearly basis, Aker Kvaerner Pusnes supplies deck machinery to more than 160 ships worldwide.

“These awards confirm Aker Kvaerner’s strong position in the global market for advanced offshore products and technologies” says Mads Andersen, executive vice president in Aker Kvaerner.

Aker Kvaerner Pusnes is recognised world-wide as an innovative designer and manufacturer of on-vessel mooring equipment for the marine and offshore market.

Manufacturing of the equipment will take place in Europe and Asia. The delivery dates are scheduled from 2007 to 2009.

ENDS

For further information, please contact:

Investor relations:
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner, 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

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, 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 Pusnes is a world leader in design and supply of all types of deck machinery and mooring systems for marine and offshore applications. .Aker Kvaerner Pusnes also develops Bow Loading Systems (BLS), equipment enabling shuttle tankers to receive and secure a mooring line and hose from an offshore production facility for loading of load crude oil. Aker Kvaerner Pusnes is also experienced in Stern Offloading Systems (SOL), equipment installed at the stern of an FPSO/FSO enabling transfer of the mooring line and hose to a shuttle tanker for loading of crude oil.

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