Offshore staff

(Norway)- Aker Kvaerner has been awarded a $35 million contract for marine operations for installation of theBlind Faith semisubmersible platform in the GoM. The new contract, awarded by project partners Chevron and Kerr-McGee, will be executed by the Aker Kvaerner company Aker Marine Contractors.

The work plan calls for the installation of a mooring system, topside transport, transportation and installation ofBlind Faith. Aker Marine will also be responsible for hooking up their risers. The platform will be located in the Mississippi Canyon block 650, approximately 162 mi southeast of New Orleans and in 2,000 m of water.

Aker Marine Contractors will employ the specialized offshore construction vesselBOA Sub C for the installation activities. Aker obtained the vessel in a five-year charter agreement with Taubåtkompaniet earlier this year.

This contract adds to Aker Kvaerner's responsibilities for theBlind Faith project. In October, the company secured a contract for provision of the hull and mooring system for the semi.

Torgeir Ramstad, president of Aker Marine Contractors, said of the award, "This confirms the competitiveness of Aker Marine Contractors in the deepwater installation market. Aker Kvaerner has already been awarded the contract for delivery of the hull and mooring system. With the new, additional contract for this project, we will deliver a seamless solution for this important asset in close cooperation with the customer."

The project will commence immediately and offshore transportation and installation will be performed in September 2007.

12/22/2005