Aker Kvaerner Metals new office open in Tucson, Arizona

26 January 2006- As a result of positive market conditions in the western region of the USA, Aker Kvaerner Metals announces its new Tucson, Arizona location, transitioning from its former location in Houston, Texas. Aker Kvaerner Metals, Inc. was recently awarded a contract from Phelps Dodge to complete detailed engineering for the Morenci Concentrate Leach Project located a short distance from Tucson. 26 Jan 06



The new office in Tucson is shared by the two Aker Kvaerner business units; Aker Kvaerner Metals and Aker Kvaerner Industrial Constructors, allowing for synergies and cost savings. Aker Kvaerner Industrial Constructors has been operating in the Tucson area for approximately nine years providing direct hire construction services, with a staff of 40 and available craft resources of 800 or more. This joint office results in an ability to offer clients a full range of engineering, procurement and construction (EPC) services and at the same time allow Aker Kvaerner to obtain cost saving synergies. The new facility is now occupied and is located near the downtown Tucson corridor.

Tucson’s Aker Kvaerner Metals operation is a full service office serving key US based Mining and Metals clients. Tucson has a rich mining heritage and is home to local experienced resources, many of the industry’s suppliers and the University of Arizona, one of the few institutions offering degrees in mining and mineral processing. Tucson is well situated to serve the US metals mining industry, Mexico, and the soda ash producers of Green River, Wyoming.

The Tucson Operation is focused on front-end studies, basic and process engineering, detailed engineering, procurement, project management and other EPC and EPCM projects as demanded by the market. Close interaction with other Metals Headquarters, based in Santiago, Chile and Metals offices located in Toronto, Canada; and offices in Australia, will be a key part of the Aker Kvaerner Metals strategy.

“We are encouraged about the long-term opportunities for our Tucson operations and we look forward to being widely recognized as a quality provider of EPC services for years to come,” says Gary Mandel, Executive Vice President of the Oil, Gas, Process and Energy Business Area of Aker Kvaerner.

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 35.6 billion and employs approximately 22,000 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.

Oil, Gas, Process & Energy executes technology development, facility services and engineering and construction services for industries as diverse as Oil & Gas Onshore and Offshore Developments, Chemicals & Polymers, and Mining & Metals. We deliver a full spectrum of capital development projects and life-cycle services through a portfolio of global businesses. With an annual turnover of US $1.3 billion, Oil, Gas, Process & Energy (OGPE) business area of Aker Kvaerner employs more than 5,975 people operating worldwide.

Aker Kvaerner Metals serves mining and mineral processing companies by providing studies, project management, EPCM, commissioning and start-up services. Offices are located in Santiago, Chile Toronto, Canada; and Tucson, Arizona. Services to the Metals industry are also provided by AK Engineering Services in Europe and Australia. These organisations work closely together in support of our clients.

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

Guy Carraux

Business Development Manager & Director of Project Services

Aker Kvaerner Metals, Inc.

Contact via E-mail