Aker Kvaerner secures another floater installation contract in Gulf of Mexico

11 January 2007 - Atlantia has awarded Aker Kvaerner a contract for installation of a semi-submersible floating production unit (FPU) for the Thunder Hawk development system in the Gulf of Mexico. Atlantia will be the client and owner of the FPU and Murphy Exploration and Production Company will operate the platform. The total contract value for Aker Kvaerner is approximately USD 23 million.

The work, that will be undertaken by the Aker Kvaerner subsidiary Aker Marine Contractors, comprises installation of the spread mooring system, transportation and hook up of the FPU.

Helge Røraas, President of Aker Marine Contractors US Inc., says “This is an important milestone for Aker Marine Contractors and we look forward to working with Atlantia towards a safe and successful installation of the Thunder Hawk platform”.

The marine installation is planned to commence in the 2nd quarter of 2008, using the offshore construction vessel, BOA Sub C as main installation vessel. The planning of the project will commence immediately.

“This contract award confirms our strong position in the deep water Gulf of Mexico market and provides the opportunity to build strong relations with an important client”, says Torgeir Ramstad, President of Aker Marine Contractors.

The Thunder Hawk facility which will be based on Atlantia’s deep draft semiTM will be moored in 1800 meters water depth and equipped to produce up to 60 000 barrels of oil and 70 million standard cubic feet of gas per day.

The contract was booked in fourth quarter 2006.

ENDS

For further information, please contact:

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

Suppliers:
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 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 41.4 billion and employs approximately 23 000 people in about 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 percent 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

Contact Information

Siw Anett Enerud

Communications manager, Aker Kvaerner Products & Technologies

Aker Kvaerner ASA

Contact via E-mail