Aker, Reinertsen form JV

Aker Maritime ASA and Reinertsen AS plan to set up an equally owned joint venture company, Aker Reinertsen, to work in the offshore sector off mid-Norway. The joint venture also is considering cooperation with other companies. Aker and Reinertsen expect activity on the Norwegian Sea to increase.

Aker Maritime ASA and Reinertsen AS plan to establish a 50:50 venture company, Aker Reinertsen, to work offshore mid-Norway.

Aker and Reinertsen said they expect Norwegian Sea activity to increase, noting that several developments are in the planning stage.

The venture will bid on contracts for offshore installations and will develop offshore technology through cooperation with other companies.

They said, "Aker Reinertsen will cooperate with many companies in mid-Norway, and existing cooperative relations will be developed further. Planning is also under way to establish a large network which can offer a broader range of services to oil companies."

The joint venture will use Reinertsen's offices in Trondheim. Eventually, the joint venture may relocate to Stj�rdal outside Trondheim.

Reinertsen has contracts for both the Tjeldbergodden plant and Statoil's Heidrun field. Aker Maritime subsidiary Aker Offshore Partner maintains and modifies offshore installations.

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