Aker Kvaerner won a contract by China National Offshore Oil Corporation (CNOOC) for delivery of drilling equipment and system for an ultra deepwater drilling semisubmersible unit. The contract value for Aker Kvaerner is approximately $128 million. "This first delivery of drilling equipment systems into the Chinese offshore market is a breakthrough for Aker Kvaerner. We are very pleased that CNOOC has chosen us and are committed to execute this project to a high quality and on schedule," says Mads Andersen, executive vice president in Aker Kvaerner. The contract is undertaken by the Aker Kvaerner subsidiary, Aker Kvaerner MH in Kristiansand. The scope of work is to deliver drilling equipment package, installation and commissioning supervision. The ultra deepwater drilling rig is scheduled for delivery early 2011.
Pål Helsing was appointed Executive Vice President for Aker Kvaerner's Business Area Field Development, succeeding Simen Lieungh. Helsing will be a member of the Executive Management Team reporting to Martinus Brandal, President & CEO. Helsing comes from Subsea, one of Aker Kvaerner's five Business Areas, where he was Senior Vice President for Subsea Systems. Helsing has worked with Aker Kvaerner since 1993, and has extensive industry experience from several high-level management positions
Aker Kvaerner has recently been awarded contracts for the delivery of advanced mooring systems with a total contract value of $29.5m. The contracts comprise deliveries both to the offshore and marine industry. The work is undertaken by the Aker Kvaerner subsidiary Aker Kvaerner Pusnes in Arendal. The awards include delivery to the two advanced Aker Drilling H6e semi-submersible rigs to be built at Aker Kvaerner Stord and to five deepwater semi-submersible rigs to be built at Jurong's
Aker Kvaerner takes further strides into the Chinese market by signing two deals with China National Offshore Oil Corporation (CNOOC). One contract is for the delivery of a complete marine drilling riser system and associated equipment, while the other is for delivery of mooring equipment to a new deepwater semi submersible drilling unit. Contract values are undisclosed. The marine drilling riser system has a total length of 7500 ft.
Aker Kvaerner signed a letter of intent with Aker Floating Production in January 2007 and has now signed the final contract to deliver a complete subsea production system to Reliance Industries in India. The value of Aker Kvaerner's contract is in excess of $300m. The subsea production system will be installed at 1100-1400 meters water depth and includes trees, manifolds, controls, umbilicals, flowlines and risers.
Petrobras have selected an Aker Kvaerner design for the hull of its new semisubmersible production platform to be located offshore Brazil, at the Marlim Sul deep water field development. The design is a copy of the P-51 semisubmersible platform, developed by Aker Kvaerner for Petrobras in 2002. P-56 will be the third semisubmersible platform for Petrobras of this design. The new contract covers the additional licence as well as an option for utilizing technical assistance from Aker
Norwegian oil services group Aker Kvaerner said it has been awarded a drilling equipment contract from Daewoo Shipbuilding & Marine Engineering Co in Korea for an ultradeep drillship. Aker Kvaerner said the total contract is worth about $130m. The group said it will deliver a drilling equipment package including installation and commissioning supervision. The drillship is scheduled for delivery in the third quarter of 2011.
Norwegian engineering, construction and technology group Aker Kvaerner ASA has secured two drilling riser systems contracts from Daewoo Shipbuilding & Marine Engineering. The contracts, worth $75m, cover complete deepwater marine drilling riser system with buoyancy package and associated equipment. The systems will be used for two drilling units under construction by Daewoo Shipbuilding & Marine Engineering. The drilling riser systems will be manufactured by Aker Kvaerner Subsea in
Aker Kvaerner has signed a frame agreement with Woodside Petroleum Ltd to become the Australian oil and gas giant's preferred supplier of steel tube umbilicals. The contract could be worth between NOK 150 - 200 million annually. The frame agreement is awarded for a three year period with optional periods of one + one year and has the potential to support Woodside Petroleum Ltd with its proposed LNG developments.
Aker Kvaerner signed a contract with Jurong Shipyard in Singapore for delivery of advanced deepwater drilling systems for two semi-submersible drilling rigs to Seatankers Management Co. Ltd. The total contract value for Aker Kvaerner is approximately $200 million. The contract also includes an option for delivery of identical drilling systems for two additional rigs. Aker Kvaerner's scope of work includes two complete drilling packages consisting of engineering, equipment deliveries
Aker ASA entered a TRS (Total Return Swap) agreement with exposure to 1,500,000 shares in Aker Solutions ASA. The expiration date of the TRS agreement is November 1, 2013 and the settlement price in the agreement is NOK 83.717325 share.
AMC Connector AS, a joint venture between Aker Solutions and Emas Offshore Limited, has agreed to sell subsea construction and cable-lay vessel Lewek Connector (previously called AMC Connector) to Ocean Yield AS. In October 2010, Aker Solutions announced that it would sell its offshore
The Directors to Kvaerner's Board have been elected. From Kvaerner's first day of trading on the Oslo Stock Exchange in July 2011, the Board of Directors will consist of five shareholder-elected members as well as three members elected by Kvaerner's employees
The $665m EPC-LNG contract was awarded to the joint venture (50/50) between Aker Solutions (formerly Aker Kvaerner) and IHI, Inc. (formerly Ishikawajima-Harima Heavy Industries) and announced in a stock exchange release 19 July 2006, pending the issue of a Full Notice to Proceed from
Aker Kvaerner has won a contract for the delivery of a complete deepwater marine drilling riser system with buoyancy package and associated equipment. The client, who is undisclosed, has also signed an agreement to buy an additional buoyancy package for a drilling riser system it purchased from
Aker Kvaerner launched an internal process that will lead to the creation of one, new business area that integrates the operations of its current Maintenance, Modifications and Operations business area (MMO) and Field Development business area (FD)
Aker Kvaerner Launches the PodEx - a new, technology solution to the ever-growing challenge of maximizing oil and gas recovery from mature subsea fields. The PodEx is a module that integrates new functionality and instrumentation directly into the existing subsea control system
Aker Kvaerner has entered into an agreement which gives full ownership of Finnish RR Offshore and ends the co-operation between Aker Kvaerner and its former Russian partner ST Holdings. As part of the agreement, Aker Kvaerner sells its shares in the Astrakhan Korabel yard to ST Holding
Aker Kvaerner has been awarded its first subsea contract from Spanish oil company Repsol YPF. The deal is for the delivery of a subsea production system to the Montanzo and Lubina projects off the east coast of Spain. This is Aker Kvaerner's first subsea project in the region
ExxonMobil Exploration and Production Norway AS has exercised a two year option in its term contract with Aker Kvaerner in Stavanger, Norway. The contract covers all ExxonMobil operated assets in the Norwegian Continental Shelf. "By exercising this option ExxonMobil show their satisfaction
Aker Kvaerner has signed a five-year partnership agreement with Shell U.K. Limited and A/S Norske Shell ('Shell') covering the provision, installation, commissioning and life-of-field support of subsea control systems in the North Sea. The framework agreement is signed for an initial five year
Torbjørn Andersen has been employed as head of Corporate Communications and Investor Relations in Aker Yards. Andersen comes from a position as head of Corporate Communications in Aker Kværner. Tore Langballe, head of Corporate Communications and IR has accepted a position as SVP Corporate
Mr Leif Borge, CFO, has accepted a position as CFO in Aker Kvaerner ASA and will for that reason leave Aker Yards at the end of his notice period. Recruitment of his successor has been initiated. Mr Borge has been CFO of Aker Yards since 2002.
Aker Kvaerner awarded floater installation contract with BP Norway BP Norway has awarded Aker Kvaerner a contract for tow and installation of a floating production storage and offloading unit (FPSO). The FPSO will be installed at the Skarv field in the North Sea
Aker Kvaerner has been awarded two contracts from Petrobras to supply a total of three subsea manifolds for two of the Brazilian oil giant's projects offshore Brazil. Combined contract value is approximately USD 90 million. Aker Kvaerner Subsea in Brazil will design