The Blind Faith platform to be located in the Mississippi Canyon 650 block, approximately 162 miles southeast of New Orleans is part of the ultra-deepwater Gulf of Mexico in 6,500 feet water depth. This contract award follows more than one year of concept studies, pre-FEED (front-end engineering design) studies and a FEED study for the Blind Faith project by Aker Kvaerner's Deepwater Business unit.
"This contract award represents a breakthrough for Aker Kvaerner's deepwater business," says President and CEO, Inge K. Hansen.
This development will utilize Aker Kvaerner's Deep Draft Semisubmersible (DDS) concept which has been conceived specifically for the application of steel catenary risers in the ultra-deepwater and current-heavy Gulf of Mexico environment. The DDS represents an evolution of the strong Aker Kvaerner semisubmersible lineage.
"Aker Kvaerner has a track record within the delivery of floating offshore platforms second to none. The new contract is a recognition of our competence within the deepwater segment. We consider the Gulf of Mexico to be the most competitive deepwater market in the world and of strategic importance to Aker Kvaerner," says Hansen.
The Blind Faith semisubmersible will be delivered using several Aker Kvaerner entities such as Aker Kvaerner, Inc., Aker Kvaerner Verdal, Aker Kvaerner Engineering & Technology and Aker Marine Contractors. This delivery model allows control over the entire value chain.
President of Aker Kvaerner's deepwater business, Risto Neuvo, says "The Blind Faith project utilizes the best Aker Kvaerner combined global experience, resources and competence in Houston and Norway, such as concept development and project management in Houston and detail engineering, procurement and fabrication in Norway. This, along with our proven execution model, ensures a predictable delivery to Chevron."
The execution phase of the project will be initiated immediately with Aker Kvaerner to deliver the DDS hull to a Gulf of Mexico integration yard in June 2007.
ENDS
For further information, please contact:
Media:
Torbjorn Andersen, SVP Group Communications, Aker Kvaerner, Tel: +47 64 51 30 36 or Mob: +47 92 88 55 42
Torbjorn Andersen, SVP Group Communications, Aker Kvaerner, Tel: +47 64 51 30 36 or Mob: +47 92 88 55 42
Stein Inge Liasjo, VP Communications, Aker Kvaerner. Tel: +47 67 51 30 94 or Mob: +47 464 02 353
Donna Rougeaux, Manager Corporate Communications, Aker Kvaerner. Tel: +1 713 270 2407 or Mob: + 1 832 277 6955
Investor relations:
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39
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, Pharmaceuticals & Biotechnology, Power Generation and Pulp & Paper. The Aker Kvaerner group is organised into two principal business streams, namely Oil & Gas and E&C, each consisting 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. Aker Kvaerner has aggregated annual revenues of approximately NOK 35.6 billion and employs approximately 22,000 people in more than 30 countries.
Oil, Gas, Process & Energy executes technology development, engineering and construction services for industries as diverse as Oil & Gas Onshore and Offshore Developments, Chemicals & Polymers, Government Services, and Mining & Metals.
Field Development Europe is a multidisciplinary and technology based organisation covering all technical and management functions for carrying out development of oil and gas fields world-wide, from wellheads to receiving terminal.
This press release may include forward-looking information or statements and is subject to our disclaimer, see our web-pages www.akerkvaerner.com.