Aker Kvaerner, ExxonMobil Extend Contract

Friday, January 25, 2008
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 of the services Aker Kvaerner is delivering under this long term service agreement. We are very proud of being ExxonMobil's preferred supplier and that they recognise our company and our services as value adding to their operations", says Tore Sjursen, President of Aker Kvaerner Offshore Partner in Norway. Aker Kvaerner was awarded the Esso Broad Scope Services Agreement (BSSA) in 1998, covering technical support, maintenance and modifications services onshore, inshore and offshore related to assets in Norway and at the Norwegian Continental Shelf. The contract includes three additional two year options. ExxonMobil operates the Balder, Ringhorne, Jotun A and Jotun B assets, covered by the contract. Long term service contracts are core business to Aker Kvaerner in the maintenance, modifications and operations business segment. Such contracts are the foundation for development of our competencies, knowledge base and our tools and methods. Close relationship and cooperation with our clients under such contracts creates a unique environment for establishment and delivery of optimal services to our clients and their operating assets.

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