Aker Kvaerner to Supply Drilling Equipment to PT Apexindo

The Aker Kvaerner subsidiary, Aker Kvaerner MH, formerly known as Maritime Hydraulics, has signed a contract with PPL shipyard in Singapore for delivery of drilling equipment. The total contract value is approximately NOK 70 million.

The drill floor equipment, mudpumps, drawworks and control systems will be installed on a newbuild jack-up rig for PT Apexindo Pratama Duta Tbk. Aker Kvaerner MH will also assist with the installation and commissioning.

The contract includes an option for delivery of additional drilling equipment. The value of this option is approximately NOK 15 million.

"This is a break-through in the important offshore newbuild market in Singapore. This delivery, to one of the largest yards in Singapore, strengthens our position in the international newbuild market", says Roald Amundsen, President of Aker Kvaerner MH.

The project will start immediately, and the delivery of equipment is scheduled for June 2006. Commissioning of drilling equipment will be completed within December 2006.

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