Aker Kvaerner secures Naphtha Splitter project in The Netherlands

Aker Kvaerner has been awarded a contract from Koch HC Partnership B.V. for an upgrade of their refinery in The Netherlands. The scope is to finalise the basic engineering and provide EPCM (Engineering, Procurement and Construction Management) services for the upgrade of Koch HC Partnership’s Condensate Fractionating facility at its refinery in Europoort-Rotterdam. The contract value to Aker Kvaerner is not disclosed.

Modifications to the existing facilities and installation of new equipment are required. The project is now underway and is being executed from Aker Kvaerner’s Rotterdam office. Plant start-up is expected in 2008.

“We look forward to working with Koch HC to achieving greater plant processing flexibility and efficiency,” said Johan Cnossen, president of AK Process, Aker Kvaerner’s European Process business. “The structured project management and control features of the Aker Kvaerner Project Execution Model will be critical to the timely delivery of this project.”

ENDS

For further information, please contact:

Media:
Torbjørn S. Andersen, SVP Group Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mob: +47 928 85 542

UK: Vanessa Mourant, Communications Manager, Aker Kvaerner, Tel: +44 (0) 207 339 1064 Mob: +44 (0)7771 806566

Netherlands: Johan Cnossen, Aker Kvaerner, Zoetermeer, Tel: +31 (0)79 368 8721

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

Suppliers:
For further information about sourcing and potential subcontracts for this project, please contact: Rodger Liang, VP Supply Management, Process & Construction, Aker Kvaerner, Tel: +86 10 640 966 36

Career opportunities:
Visit: http://www.akerkvaerner.com/Internet/CareerCentre

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 and Power Generation. The Aker Kvaerner group is organised in 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 50 billion and employs approximately 24 000 people in about 30 countries.

Aker Kvaerner is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine-resources industries. The Aker companies share a common set of values and long traditions of industrial innovation. As an industrial owner with a 40.27 percent holding in Aker Kvaerner, Aker ASA takes an active role in the development of its holdings.

Aker Kvaerner’s Process and Construction business area is a world leader in the project management, design and construction of major projects spanning refining, petrochemical processing, metals and mining, power generation, and acid plants. From initial concept through technology development, process technology application, design, procurement, construction, commissioning, operations, maintenance, modification and decommissioning, we provide our customers with the full life cycle of services. Process and Construction provides sound local expertise, combined with the depth and strength of global project operations.

AK Process is a trading name of Aker Kvaerner Projects Ltd. a wholly owned subsidiary of AKER KVAERNER ASA and the legal entity responsible for the execution of the work. AK Process serves the chemicals and polymers, refining and onshore oil & gas industries. It provides the full life cycle of a project from concept studies, through to design, engineering, project management, delivery of process technologies, procurement, construction and maintenance services. As a pure project execution/EPC specialist, AK Process can provide customers with strategic ’one-off’ services or full turnkey solutions under a single project management control. It works with its customers in the development of major technological innovations, having participated in the conceptualisation and implementation of ideas, which are the foundation for world-class production facilities. Also offered are consultancy services in reliability, business modelling and environmental, health, safety and risk management.

Koch HC Partnership B.V., part of Koch Supply & Trading, operates a refinery, built in 1994 (Koch HC Partnership B.V. assumed ownership in 1998), which produces jet fuel, gas oil, naphtha and residual fuel. The refinery processes crude oil primarily rather than condensates. Koch Supply & Trading, an indirect subsidiary of Koch Industries, Inc., and its companies have extensive operations across all aspects of crude oil, petroleum products, and commodity trading as well as capabilities in risk-management and cross-commodity offerings.


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