Aker Stord News

The Directors to Kvaerner's Board have been elected. From Kvaerner's first day of trading on the Oslo Stock Exchange in July 2011, the Board of Directors will consist of five shareholder-elected members as well as three members elected by Kvaerner's employees. The shareholder-elected members are Kjell Inge Røkke (chairman), Tore Torvund, Bruno Weymuller, Lone Fønss Schrøder and Vibeke Hammer Madsen. The employee-elected members are Rune Rafdal, Ståle Knoff Johansen and Bernt Harald Kilnes. Kjell Inge Røkke is an entrepreneur and industrialist, and has been a driving force in the development of Aker since the 1990s. Mr. Røkke owns 67.8 percent of Aker ASA through The Resource Group TRG AS.

During the last few days the deck and hull of the Gjøa platform have been mated together in the fjord outside the Norwegian town of Stord. There were exacting requirements for precision and weather conditions during the operation, which was a success. The four-legged hull rose from the sea in the sea off Stord and spiked the deck of the new North Sea giant, Gjøa. Four guide pins had to meet their respective slots in a deck the size of a football field, with a tolerance of just 1 inch in all directions.

STX Europe signed three lifecycle services contracts for modernizing a cruise vessel for Carnival Cruise Lines and two tankers for Neste Shipping. MS Sensation of CCL will get 98 additional passenger cabin balconies as well as new black and grey water piping during the retrofit. MT Palva and Stena Poseidon of Neste will get crew accommodation refurbishing. The work onboard the oil tankers will be done while the vessels are in operation. The cruise vessel retrofit will be performed at Grand Bahama Shipyard during January and February 2009. In addition to ship building STX Europe provides lifecycle services. the vessels we have built and also offer upgrading and maintenance service to other customers.

Phillips Petroleum's UK subsidiary has exercised the option in its existing contract with Aker Maritime to deconstruct the Maureen platform for re-use and recycling. Maureen is to date the largest platform in the world to be removed after use. Parts of the substructure are planned to be used in a new quay at Stord in western Norway - and the aim is to use anew or recycle no less than 95 percent of the platform. The assignment is worth NOK 700 million, which brings the total value of Aker Maritime's work with Maureen to NOK 1 500 million. Working with Phillips, Aker Maritime was closely involved in the planning and executing for the refloat of the 110 000-tonne steel platform in the UK sector. cleaning.

By James R. International Maritime Associates, Inc. Floating production has evolved to a mature technology that opens for development oil and gas reservoirs that would be otherwise impossible or uneconomic to tap. The technology enables production far beyond the depth constraints of fixed platforms, generally considered to be 1,400 ft. (426.7 m), and provides a flexible solution for developing short-lived fields with marginal reserves and fields in remote locations where installation of a fixed facility would be difficult. Floating production systems vary greatly in appearance - from ship-shape FPSO vessels to multi hull production semis to cylindrical shaped production spars.

automation systems onboard the Statoil production ship, ‘Norne’. Statfjord A, B and C, Heidrun and Åsgard A and B. Norwegian oil & gas market is an important area for Kongsberg Maritime. will be equipped to meet future challenges. ‘Kristin’ platform, which is currently being assembled by Aker Stord. very little downtime,” comments Tor Erik. full production. maintenance and operations with Statoil renewed for two years. Maritime also holds the framework contract with Statoil for new projects.

Heavy transport shipping specialist Dockwise Shipping in Breda, The Netherlands just completed two shipments of Statoil's Floating Production Platform for the Kristin gas and condensate field in the Norwegian Sea. Dockwise was awarded two contracts for the transportation of a Riser Balcony, a Flare Tower and the FPU hull of Statoil's Kristin platform to be delivered at the Aker Stord yard for completion. First the heavy transport vessel Tern transported the Kristin Riser Balcony and Flare Tower, constructed at the yard of Dragados Offshore in Spain, to the integration site in Stord, Norway.

The Aker Stord subsidiary of the Aker Maritime group has been awarded the main contract for the new platform for Statoil's Kristin development in the Norwegian Sea. Worth roughly NOK 5 billion and won against competition, this assignment covers design and hook-up of the whole installation as well as construction of part of the topsides. Aker Maritime could apply its expertise with floating platforms to bidding for the Kristin unit. It also built further on good and well-tested project execution methods developed by the group, which were applied not least to the successful delivery of Snorre B floater in the Norwegian North Sea last year.

Having added a unique multi-purpose offshore installations vessel and a powerful floating crane to its fleet, the Smit International Group is increasingly busy on installation heavy lift and heavy transport projects associated with FPSOs. Smit Pioneer, formerly a LASH carrier, was acquired and converted by Smit in 1999. The vessel represents a new concept for multi-purpose offshore installation tasks. This large, dock-type vessel is designed and equipped to remain on station for extended periods, having an unusually high degree of self-sufficiency. The multi-purpose vessel's primary roles include: installation of moorings, diverless tie-ins, well servicing, flexlay, manifold and riser installation, ROV support and long haul cablelay.

Aker Maritime is reportedly set to sell its subsea operations for $620.7 million to France's Coflexip, Reuters reported Norway's NRK public radio as saying. It said Aker's board had unanimously approved the sale. The sale would cover Aker's most profitable businesses and exclude its Norwegian construction yards Aker Stord and Aker Verdal. But Aker Maritime, which offers services ranging from seismic surveys to decommissioning of ageing oil and gas installations, said the report was speculative. "We don't comment on this type of media speculation," Aker Maritime spokesman Torbjoern Andersen said. In Paris, Coflexip also declined comment. Coflexip shares were trading 2.5 percent weaker in Paris at 144.5 euros.