Aker Kvaerner Awarded Contract for White Rose Platform

Aker Kvaerner, part of the international oil services, engineering and construction, and shipbuilding Group, Kvaerner, announced that Husky Energy has awarded the joint venture comprising Aker Kvaerner (49 per cent) and its partner Peter Kiewit & Sons Co. (51 per cent), an EPC contract for the complete topside facilities for the White Rose FPSO, offshore Newfoundland, Canada. The contract has a value of approximately $400 million. The White Rose field will be developed with a production vessel, and the contract is regarded as a major milestone in Aker Kvaerner's strategy, for which the Canadian market is a key geographical area.

All engineering, procurement and construction activities will be undertaken from the Joint Venture's offices under the name of Aker Maritime Kiewit Contractors (AMKC), in Newfoundland. AMKC is now in the process of expanding its existing facilities in St. John's, Newfoundland. In addition to personnel recruited locally in Newfoundland and elsewhere in Canada, key project staff from Aker Kvaerner's offices in both Norway and Scotland have been mobilised to St. John's to complement the team. The project will start immediately, and the vessel is scheduled to start production in late 2005.