Aker Kvaerner JV wins contract to support decommissioning project at Sellafield

22 February 2007 - British Nuclear Group has awarded the ACKtiv Nuclear Joint Venture (JV) - consisting of Aker Kvaerner, Atkins and Carillion - a project to provide a new operational export facility within the First Generation Magnox Storage Pond at Sellafield in the UK. The project entails stripping out, refurbishing and modifying the existing inlet building to provide the new facility.

The facility will be used to enable skips of pond inventory, plus miscellaneous redundant items to be safely placed inside shielded flasks. The flasks will be exported by means of a flask transporter for onward processing and long-term safe storage. The scope of this contract is for the development, detailed design, supply, installation and in-active commissioning of the new export facility. The project is scheduled to run until March 2009, with Aker Kvaerner receiving a 40% share of the JV’s GBP 15 million contract value. The project will contribute significantly to the post operational clean out of the First Generation Magnox Storage Ponds, and the ultimate safe decommissioning and site remediation of this historic waste storage facility.

Dave Ley, President of Aker Kvaerner Engineering Services, added, “The ACKtiv Nuclear JV are delighted to be working with British Nuclear Group on this significant project at Sellafield. This is a major strategic project opportunity to extend our relationship with British Nuclear Group at Sellafield and our portfolio of Nuclear projects throughout the UK.” ACKtiv Nuclear have previously delivered over GBP 40 million of similar decommissioning projects over the last three years.

The ACKtiv Nuclear joint venture brings together three of the most well respected engineering, construction and full asset lifecycle service organisations in the Nuclear sector, Aker Kvaerner, Atkins and Carillion. ACKtiv Nuclear is able to offer an unbroken asset lifecycle liability chain, from conceptual design through detailed engineering, construction, installation, commissioning, handover to the operating unit and post-handover operations support.


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 Jeff Clark, Manager of Supply Management, on Tel: +44 (0)1642 331714


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 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 55 000 employees and NOK 80 billion revenues. Aker owns 40.1 percent of Aker Kvaerner, and the group is also a major European shipbuilder and a significant participant in the fisheries industry.

Aker Kvaerner Engineering Services Ltd is a wholly owned subsidiary of AKER KVAERNER ASA. Aker Kvaerner Engineering Services is a leading provider of both turnkey and reimbursable engineering solutions and life cycle services to the nuclear, water, metals, energy and process industries in the UK and worldwide.

British Nuclear Group is a specialist site management and nuclear clean-up business. Part of the BNFL Group, our strategy and focus is clear - to deliver accelerated nuclear clean-up programmes, safely and cost-effectively for our customers in the UK and overseas. Our company is founded on a proud track record of applying in-depth experience to complex nuclear challenges. The end result will be a safe environment, both now and for future generations.


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

Torbjørn S. Andersen

SVP Group Communications

AKER KVÆRNER ASA

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