Aker Kvaerner Charters Offshore Construction Vessels

Tuesday, August 23, 2005
Aker Marine Contractors, part of the Aker Kvaerner group, has entered into an agreement with Taubåtkompaniet AS securing full marketing and operational control over the specialized offshore construction vessels "Boa Deep C" and "Boa Deep C II". The agreement runs for five years with options for extensions up to four more years, and is expected to significantly enhance the company's position in the deep water subsea and floating production markets. The new agreement builds on the positive results achieved following Aker Marine Contractor's introduction of "Boa Deep C" in May 2004 on contracts for Statoil, Woodside and Modec. The vessel has since its introduction seen almost full utilization, and is currently operating in the Gulf of Mexico.

Aker Marine Contractors is owned by Aker Kvaerner and Taubåtkompaniet in a 60/40 split. "We have a long track record of successful projects executed alone and in close partnership with our owners", says Torgeir Ramstad, President of Aker Marine Contractors. The "Boa Deep C II" is currently being outfitted in Spain and is expected to enter the market at the end of 2006. This second vessel will have enhanced capabilities making it an ideal tool for working with difficult assignments in particularly harsh environments.

Subsea construction and installation work can be performed down to water depths of 3,000 m, lifting payloads of up to 400 metric tons. The vessels have built in state-of-the-art systems and duplication of key equipment providing for generous safety margins under most conditions. Aker Marine Contractors primarily intends to employ the vessels on projects around the Atlantic rim.

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