Aker Kvaerner Gets Contract for Platform in Egypt
Aker Kvaerner has been awarded a contract for operation, management and maintenance of the Al Zaafarana FPSO offshore Egypt by operator Gemsa Petroleum Company and partners. Options for contract extensions are included in the contract. The Al Zaafarana FPSO is located offshore Egypt in the Red Sea and is operated by Gemsa Petroleum Company (Gempetco). Produced oil is stored in the FPSO and is transported onshore by shuttle tankers. The average manning of the FPSO is approximately 25 persons. Under the new contract, personnel will be provided by Aker Kvaerner Operations and its partner Gravitas & Cie SA for the work at the Al Zaafarana FPSO.
Aker Kvaerner Wins FPSO Contract in Egypt
Aker Kvaerner won a contract for operation, management and maintenance of the Al Zaafarana FPSO offshore Egypt by operator Gemsa Petroleum Company and partners. The contract value is $32.5 m for a five year contract period effective from September 1, 2007. Options for contract extensions are included in the contract. The Al Zaafarana FPSO is located offshore Egypt in the Red Sea and is operated by Gemsa Petroleum Company (Gempetco). Produced oil is stored in the FPSO and is transported onshore by shuttle tankers. The average manning of the FPSO is approximately 25 persons. Under the new contract, personnel will be provided by Aker Kvaerner Operations and its partner Gravitas & Cie SA for the work at the Al Zaafarana FPSO.
Aker Kværner Forms FPSO Operations Entity
Aker Kvaerner and the Norwegian ship owner Aktieselskabet Borgestad ASA established a new company named Aker Borgestad Operations AS, combining expertise within oil field processing and marine operations. The new company will operate oil and gas production vessels on behalf of Aker Floating Production, a company which owns several Floating Production Storage and Offloading (FPSO) units. This business model allows Aker Floating Production to remain focused on developing business, leveraging Aker Kvaerner and Borgestad, which both have operations of assets as part of their core business. The Aker Kvaerner company Aker Kvaerner Operations AS and Aktieselskabet Borgestad ASA will each own 45 per cent of the shares in Aker Borgestad Operationsā¦
Aker Kværner Expands FPSO Operations
Aker Kvaerner and the Norwegian ship owner Aktieselskabet Borgestad ASA established a new company named Aker Borgestad Operations AS. The new company will operate oil and gas production vessels on behalf of Aker Floating Production, a company which owns several Floating Production Storage and Offloading (FPSO) units. This business model allows Aker Floating Production to remain focused on developing business, leveraging Aker Kvaerner and Borgestad, which both have operations of assets as part of their core business. The company, Aker Kvaerner Operations AS and Aktieselskabet Borgestad ASA will each own 45 percent of the shares in Aker Borgestad Operations, while Aker Floating Production ASA and Aker Yards ASA will own five percent each.
