Aker Kvaerner Awarded Contract

Aker Kvaerner awarded floater installation contract with BP Norway BP Norway has awarded Aker Kvaerner a contract for tow and installation of a floating production storage and offloading unit (FPSO). The FPSO will be installed at the Skarv field in the North Sea. The total contract value is approximately NOK 300 million. The scope of work includes pre-installation of the 15 leg mooring system, tow from South Korea to Norway and transportation and installation of the FPSO. The work will be executed by the Aker Kvaerner subsidiary, Aker Marine Contractors.

The new-built offshore construction vessel BOA SUB C, on long term charter for Aker Marine Contractors, will be used for the mooring pre-installation. The vessel is equipped with diesel-electric propulsion, dynamic positioning class, 3 400 tonnes active heave compensated crane and 600 tonnes anchor handling winch. The vessel is tailored to perform mooring and subsea installation work up to 3000 meters in depth. The BOA SUB C vessel is currently engaged in several projects in the Gulf of Mexico. Other vessels for this operation will be sourced from Maersk Supply Service.

Pre-installation of the 15 leg mooring system will be executed in 2010, while transportation and installation of the complete FPSO will be executed in 2011. The planning and engineering will commence in January 2008.