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Aker Kvaerner awarded subsea contract for Petrobras


WEBWIRE

14 September, 2006 - Aker Kvaerner has been awarded a contract to supply subsea trees to Brazil’s national oil company Petrobras. The contract has a value of approximately USD 12 million.

The scope of work comprises three mudline dual-bore christmas trees designed to 250 metres (820 feet) water depth, with associated tools. The christmas trees will be deployed in the Peroá phase II field, located in Espírito Santo basin offshore Brazil. The engineering phase of this contract starts immediately in Houston. Deliveries are to be completed from Aker Kvaerner’s facility in Curitiba, Brazil, for delivery in the next 12 months.

“This award sets a new path for close cooperation with Petrobras in the mudline christmas trees segment, enhancing Aker Kvaerner’s established position as a of strong supplier of christmas trees in Brazil,” says Marcelo Taulois, President Aker Kvaerner Subsea in Brazil.

Aker Kvaerner has extensive experience delivering subsea trees in Brazil, having delivered more than 130 subsea christmas trees to Petrobras since the start of operations in Brazil.

The agreement is signed between Aker Kvaerner Subsea Brazil and Petróleo Brasileiro S.A.

ENDS

For further information, please contact:

Brazil:
For further information about this project in Brazil, please contact Gustavo Gonçalves - AKS Brasil Sales & Marketing Manager, + 55 (21) 2122-4410 and/or Marcelo Taulois - AKS Brasil President, + 55 (41) 3227-8402

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.

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



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