Drilling Riser Contract to Aker Kvaerner

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 in 2007. Total contract value is approximately USD 50 million.
The marine drilling riser system, to be used for a drillship, will come at a length of 7500 feet. It will be manufactured and delivered out of Aker Kvaerner's subsea manufacturing centre in . Delivery is scheduled for Q2 2010.
Buoyancy modules will be manufactured by Phoenix Polymers International, a company which Aker Kvaerner acquired a controlling 50 per cent stake in June 2007.