28 February 2007 - BP on behalf of the BP Licences has entered into final clarifications with Aker Kværner in a view to award contract for the steel substructure to the Valhall Re-Development Project in the North Sea. Contract award is subject to partner deciding to proceed and governmental approval of the plan for development and operation (PDO). PDO will be submitted to the authorities at the end of first quarter 2007. The contract value is approximately NOK 450 million.
The contract will be executed by the fabrication yard Aker Kvaerner Verdal in Mid-Norway, and includes procurement, fabrication, load-out and sea-fastening of the steel jacket substructure and piles for fastening the jacket to the seabed. The fabrication will start at Aker Kvaerner Verdal at the turn of the year, and the project will reach its peak manpower of approximate 300 personnel in June 2008.
The main reason for developing a new field centre at the Valhall is the subsidence of the existing field centre and the need to operate more efficiently. The new centre will consist of an integrated processing and housing platform, which will become operative in 2010. The jacket will be installed one year ahead of this. With the new platform in place, the Valhall field will probably continue to be on stream until 2050.
The Valhall Re-Development jacket will be number 34 in the series of jackets delivered from Aker Kvaerner Verdal. The yard has over the last 20 years more or less continuously had project execution of jackets.
"The continuity in fabricating jacket structures combined with efficiency improving year by year has result in a very streamlined and efficient project execution model for this type of project, and has made it possible to win in a tough international competition", says Bjørnar Skjevik, President of Aker Kvaerner Verdal.
Aker Kvaerner Verdal is currently building the Blind Faith hull for Chevron in USA. This project will be delivered in the second quarter 2007, and will be connected to the topside in shallow water outside Corpus Christi, Texas during the summer 2007.
The Valhall field is situated in approximately 75 metres of water, south in the Norwegian sector of the North Sea, close to the Danish sektor, and is being developed by BP Norge (operator) together with its partners, Hess Norge AS, Shell Norge AS and Total E&P Norge AS.
Steel jacket substructure dimensions:
Height : 106 meters
Weight : appr. 7.500 tonnes
Piles. : appr. 4.000 tonnes
Start fabrication : December 2007 / January 2008
Delivery : Spring 2009
Contract : PC (Procurement and Construction)
For further information, please contact:
Tove Strand Trana, Communication Manager, Aker Kvaerner Verdal. Tel. +47 74 07 45 09, Mob: +47 46 40 11 03
Lasse Torkildsen, Vice President, Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39
Dag Joar Lund, Vice President Commercial. Tel. direct: +47 74 07 45 72. Mobile +47 95129434
AKER KVÆRNER ASA, through its subsidiaries and affiliates ("Aker Kvaerner"), is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals and Power Generation. The Aker Kvaerner group is organised in a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities.
The parent company in the group is Aker Kværner ASA. Aker Kvaerner has aggregated annual revenues of approximately NOK 50 billion and employs approximately 23 000 people in about 30 countries.
Aker Kvaerner is part of the Aker Group (www.akerasa.com
), a leading multi-industry powerhouse with more than 55 000 employees and NOK 80 billion revenues. Aker owns 40.1 percent of Aker Kvaerner, and the group is also a major European shipbuilder and a significant participant in the fisheries industry.