Aker Kvaerner to Supply Drilling Equipment for Maersk Jackups

Aker Kvaerner has signed a contract with Maersk Contractors for delivery of drilling equipment to four jackup rigs to be fabricated at the Keppel Fels shipyard in Singapore. The total contract value is approximately NOK 370 million.

Aker Kvaerner MH, formerly named Maritime Hydraulics, will deliver drillfloor/derrick equipment, BOP handling equipment and control systems to be installed on four identical newbuild jack-up rigs. Aker Kvaerner MH will also assist with the installation and commissioning.

The jack-ups will be targeting the high-end international drilling market, and are the most advanced that have been built to date. Aker Kvaerner MH's scope of work includes computer controlled, highly automated drilling sequencing technology and sophisticated Torquemaster (TM) (Casing Roughneck) pipehandling machinery.

"This order is a break-through towards Maersk Contractors jack-up fleet, and confirms Aker Kvaerners MH's position in the high end drilling market. This delivery, to a high quality and well respected drilling contractor and also 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 for the first rig is scheduled for June 2006.

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