Aker Kvaerner wins new contracts in China

Aker Kvaerner takes further strides into the Chinese oil and gas market by signing two deals with China National Offshore Oil Corporation (CNOOC) for drilling equipment

These deals include one contract for the delivery of a complete marine drilling riser system and associated equipment, and another for the delivery of mooring equipment to a new deepwater semi submersible drilling unit.

The marine drilling riser system has a total length of 7500 ft.

"The Chinese deepwater market has tremendous potential.

Up until now most of the oil exploration in China has been in shallow waters.

However, CNOOC is now taking their efforts to a new level.

We are honoured that they consider our technologies best suited to match their ultra deepwater ambitions," says Raymond Carlsen, executive vice president, Aker Kvaerner Subsea.

The marine drilling riser system will be manufactured and delivered out of the Aker Kvaerner Subsea new high tech manufacturing centre in Malaysia.

Delivery is scheduled for Q2, 2010.

Aker Kvaerner subsidiary, Aker Kvaerner Pusnes will deliver its well-proven mooring equipment for the CNOOC drilling rig.

"We set up our manufacturing centre in Malaysia to capitalise on the expected subsea boom in the Asia-Pacific region.

This first delivery to the Chinese offshore market is another proof that it was the right thing to do," says Carlsen.

Aker Kvaerner has previously announced that the company is also delivering drilling equipment and systems for the CNOOC ultra deepwater drilling semi-submersible rig through subsidiary Aker Kvaerner MH.

"We are once again showing that our ability to combine efforts and deliver from several of the Aker Kvaerner business units while operating as 'one' Aker Kvaerner is something our clients find appealing.

The range of products and services we offer is fairly unique.

We will continue to use this to our advantage," concludes Carlsen.

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