The contract, with some 50,000 estimated man-hours, is valued at approximately USD 2 million and is scheduled for completion in May 2006, expandable to May 2007. Methanex's total capital cost for the projects is approximately USD 18 million.
Aker Kvaerner will under the new contract provide services to modify, expand, improve and optimise existing facilities. The scope of work includes pre-investment studies, feasibility studies, basic and detail engineering, as well as project execution and management. Aker Kvaerner will utilise local resources in Punta Arenas, Aker Kvaerner's Santiago office and the extensive methanol expertise at Aker Kvaerner's Houston office.
Methanex's methanol production facilities are located at Cabo Negro, near the city of Punta Arenas in the heart of Chile's petroleum and gas producing region. The facilities give Methanex its largest low-cost production hub. Its three methanol plants have a combined annual capacity of three million tonnes, with a direct Methanex workforce of approximately 220 people. This production capacity will rise to nearly 4 million tonnes when the new production plant is commissioned by Q1-2005.
Aker Kvaerner successfully completed two lump sum, turnkey contracts for Methanex in the 1990s for design and construction of its second and third production units.
The Aker Kvaerner entity that is signatory to the new contract is Kvaerner Metals, Agencia en Chile de Kvaerner E&C Worldwide Corporation.
ENDS
For further information, please contact:
Lola Kolbach, Manager of Marketing & PR, Aker Kvaerner, Santiago, Tel: + 56 2 336 3520
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 span a number of industries, including Oil & Gas production, Refining & Chemicals, Mining & Metals, Pharmaceuticals & Biotechnology, Power Generation and Pulp & Paper. Aker Kvaerner has aggregated annual revenues of approximately USD 4.5 billion and employs around 21,000 employees in more than 30 countries.
The Aker Kvaerner group consists of 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.
Oil, Gas, Process & Energy
executes technology development, engineering and construction services for industries as diverse as Oil & Gas Onshore and Offshore Developments, Chemicals & Polymers, Pharmaceuticals, Government Services, and Mining & Metals. With an annual turnover of US$1.14 billion, Oil, Gas, Process & Energy (OGPE) business area of Aker Kvaerner employs more than 5,400 people operating worldwide.
Aker Kvaerner Metals
serves mining and mineral processing companies by providing studies, project management, EPCM, commissioning and start-up services. Offices are located in Houston, Texas; Santiago, Chile; Toronto, Canada; San Ramon, California; and Salt Lake City, Utah. Services to the Metals industry are also provided by AK Engineering Services in Europe, Aker Kvaerner Australia, and Kvaerner U.S. Inc. (serving Iron and Steel clients from Pittsburgh, Pennsylvania). These organisations work closely together in support of our clients.
This press release may include forward-looking information or statements and is subject to our disclaimer, see our web-pages www.akerkvaerner.com