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Aker Kvaerner awarded contract with ConocoPhillips


11 December 2006 - ConocoPhillips has awarded Aker Kvaerner a service contract for provision of personnel and equipment for well intervention services on the Norwegian Continental Shelf. The firm contract period is three years with an estimated value of NOK 900 million. The contract includes an option to extend another 2 x 2 years.

“This is a strategically important contract which ensures Aker Kvaerner Well Service’s position as the leading provider of well intervention services on the Norwegian Continental Shelf,” says Mads Andersen, Executive Vice President in Aker Kvaerner.

The scope of work comprises mechanical wireline services, wireline tractor services and cased and open hole logging services. The work will be undertaken by the Aker Kvaerner subsidiary, Aker Kvaerner Well Service in Stavanger. Data acquisitions services are subcontracted to Baker Atlas.

Through this agreement, Aker Kvaerner continues a good cooperation with an important client. “We look forward to jointly developing and implementing new well intervention technologies that will further enhance safety and increase operational efficiency,” says Ole Petter Thomesen, President of Aker Kvaerner Well Service.


For further information, please contact:

Investor relations:
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner, Tel: +47 67 51 30 39

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 24 000 people in more than 30 countries.

Aker Kvaerner is part of the Aker Group (, a leading multi-industry powerhouse with more than 50 000 employees and NOK 80 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 Well Service is Aker Kvaerner’s Centre of Excellence for Well Intervention technology. The company is a principle supplier of Wireline, Tractor and Cased Hole Logging Services to the technology oriented North Sea oil and gas industry. Aker Kvaerner Well Service is experienced in the management and execution of integrated well service contracts. Aker Kvaerner Well Service specialises in mechanical wireline operations and data acquisition for all cable sizes

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


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