Offshore staff

(Norway)-Aker Kvaerner has signed a contract with Sevan Drilling Pte. Ltd. for delivery of drilling systems and equipment to a drilling platform of the Sevan design. The total contract value for Aker is approximately $87 million.

The contract, undertaken by Aker subsidiary Aker Kvaerner MH, calls for the delivery of a complete drilling package of engineering, equipment deliveries and related services. Aker reports that the drilling system will be a high efficient system designed for parallel operations and operation at remote locations.

The drilling rig is designed for ultra deepwater and is scheduled for delivery during the first half of 2009. It will additionally be designed for operation worldwide.

Roald Amundsen, president of Aker Kvaerner MH, said, "We are pleased that Sevan Marine has awarded us this contract, which confirms our leading market position in the deepwater drilling segment."

The contract also includes the option for delivery of a second, identical drilling package.

04/06/2006