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Product category: Oil, Gas, Petrochemical Industry News
News Release from: Aker Kvaerner Oil and Gas
Edited by the Processingtalk Editorial Team on 13 August 2007

Operations contract for Gempetco
Egyptian FPSO

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Aker Kvaerner has been awarded a contract for operation, management and maintenance of the Al Zaafarana FPSO offshore Egypt by operator Gemsa Petroleum Company, and partners

Aker Kvaerner contract for operations of Al Zaafarana platform in Egypt 10 August 2007 - Aker Kvaerner has been awarded a contract for operation, management and maintenance of the Al Zaafarana FPSO offshore Egypt by operator Gemsa Petroleum Company and partners The contract value is NOK 200 million for a five year contract period effective from 1 September 2007

Options for contract extensions are included in the contract.

The Al Zaafarana FPSO is located offshore Egypt in the Red Sea and is operated by Gemsa Petroleum Company (Gempetco).

Produced oil is stored in the FPSO and is transported onshore by shuttle tankers.

The average manning of the FPSO is approximately 25 persons.

Under the new contract, personnel will be provided by Aker Kvaerner Operations and its partner Gravitas and Cie SA for the work at the Al Zaafarana FPSO.

"The award of this contract gives Aker Kvaerner Operations a foothold in North Africa and in the growing market segment of FPSO production,'' says Managing Director of Aker Kvaerner Operations, John McKeown: "Further, Gempetco has, in meetings and negotiations and now in the award of this contract, confirmed their confidence in Aker Kvaerner.

We are enthusiastic to undertake this challenging contract and to develop additional opportunities in the region''.

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