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Aker Kvaerner awarded drilling equipment contract with PPL Shipyard Pte Ltd in Singapore


22 November 2006 - Aker Kvaerner has been awarded a contract with PPL Shipyard Pte Ltd in Singapore for delivery of drilling equipment for a Baker Marine Pacific Class 375 jack-up drilling rig. The total contract value for Aker Kvaerner is approximately USD 15 million.

The award is based on a letter of intent signed with PPL Shipyard Pte Ltd in Singapore, October 2006. The work is undertaken by the Aker Kvaerner subsidiary, Aker Kvaerner MH in Kristiansand.

The scope of work for Aker Kvaerner MH is to deliver drilling equipment as well as engineering and commissioning services.

The jack-up drilling rig is scheduled for delivery at the end of 2008. The drilling rig will be designed for world-wide operation.

“This award confirms not only Aker Kvaerner’s performance and close cooperation with PPL Shipyard Pte Ltd on similar projects, but also Aker Kvaerner MH’s established position as a leading supplier in the world-wide offshore drilling equipment segment,” says Roald Amundsen, President of Aker Kvaerner MH.


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 MH is a market leader in designing drilling equipment and drilling facilities. The company is recognised for developing new technology for deepwater drilling based on field-proven drilling equipment. Aker Kvaerner MH provides the international onshore and offshore industry with complete drilling equipment packages/modules (drilling and/or mud related systems, RamRig or conventional), full range of itemised drilling equipment, well intervention packages, drilling support modules, drilling control system, and monitoring systems as well as land rigs packages, workover rigs and products. Aker Kvaerner MH’s competitiveness is based on a unique combination of equipment deliveries, project execution capabilities and excellent after sales service.

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