Aker Kvaerner secures subsea and floater installation contract

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4 January 2006

Lundin Netherlands B.V. Succursale de Tunisie has awarded Aker Kvaerner a contract for marine operations in conjunction with deployment of the FPSO "Ikdam" to the Oudna field offshore Tunisia. The contract value is approximately USD 14 million.

The work will be executed under an alliance agreement with the Aker Kvaerner company, Aker Marine Contractors, and Maersk Supply Service who will provide the installation vessel. The marine operation, including installation of mooring system, flexible risers and umbilicals is planned in June / July 2006 with the hook-up of the "Ikdam" in August 2006. The water depth at the field is about 260 meters. The project will commence immediately.

Torgeir Ramstad, President of Aker Marine Contractors says, "We are delighted to be given this opportunity to demonstrate our capabilities in the subsea installation market, and look forward to working in close cooperation with the customer on this important assignment."


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