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Aker Kvaerner Awarded Hydro Contract

Monday, January 23, 2006

Hydro awarded Aker Kvaerner Offshore Partner AS in Bergen, Norway, $63 million contract for maintenance and modification work on the platforms Troll B, Troll C, and Brage. Aker Kvaerner Elektro AS will supply all services for electrical, instrumentation and telecommunication installations. The contract is for the duration of three years, with an option for an additional three years. Aker Kvaerner was awarded one of two main contracts for maintenance and modification of Hydro assets in June 2003. The new contract is an execution of an option for extension which was part of the original contract.

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