Aker Kværner awarded contract for DeepStar study

DeepStar, a group of 10 deepwater operators, has awarded Aker Kværner a contract for a study to develop a semisubmersible production platform for use in ultra-deepwater field developments and Aker Kvaerner won the contract in competition with a number of deepwater floater designers.

DeepStar, a group of 10 deepwater operators, has awarded Aker Kværner a contract for a study to develop a semisubmersible production platform for use in ultra-deepwater field developments and Aker Kvaerner won the contract in competition with a number of deepwater floater designers.

The DeepStar group seeks a solution for future oil and gas field developments in ultra-deepwater depths to 10,000 ft. In addition to the development of the floating platform itself, the scope includes other critical aspects such as design of the risers that will bring the oil and gas from the well to the surface. It also includes installation methods for mooring systems and risers.

The study will be completed by December. Aker Kværner Oil, Gas and Process International Inc. in Houston will be responsible for the contract, drawing on expertise from the entire global Aker Kværner group. Key partners in executing the study are Stress Engineering Services in Houston and Aker Kværner's subsidiary Aker Marine Contractors, specializing in marine operations and installation.

"This award underlines our strong position in the semisubmersible production floater market segment in general and the ultra-deepwater Gulf of Mexico semisubmersible market segment in particular," said Knut Eriksen, senior vice president of Aker Kværner's deepwater business unit. "The Aker Kværner Deep Draft Semisubmersible (DDS), which we have spent the last three years developing, will form the basis for this study."

DeepStar Phase VII participants are Anadarko, BP, ChevronTexaco, ConocoPhillips, Eni, Kerr-McGee, Marathon, Petrobras, Total, and Unocal.

(6/18/04)

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