Aker Kvaerner to Deliver Subsea Production System for Reliance

Reliance Industries Limited has awarded Aker Kvaerner an engineering, procurement and construction contract to deliver an 18 well subsea production system for the deepwater Block KG-D6 gas development located offshore the east coast of India. The contract is one of the world's largest subsea contracts ever awarded and affirms Aker Kvaerner's position as the leading contractor for deepwater subsea developments. The initial contract value is approximately US $400 million.

Aker Kvaerner Subsea will supply a complete subsea production system including subsea trees, manifolds, steel tube umbilicals and power cables, controls system and associated connections to tie the subsea production system to an onshore gas terminal. The subsea production system will be installed in water depths from 700 to 1700 meters.

"We are extremely proud to be selected to deliver this contract for Reliance, which demonstrates our customer's confidence in our ability to deliver a fully integrated subsea solution and positions us for growth in the Indian subsea market. Reliance has an excellent track record of success within their core business areas and also in exploring new opportunities within the energy sector - we look forward to working with them on the first phase of this exciting new development," says Raymond Carlsen, executive vice president, Aker Kvaerner Subsea.

Engineering has commenced in Aker Kvaerner's offices in Norway, following on from the completion of the front-end engineering and design there in 2005. First deliveries are scheduled for July 2007.

Aker Kvaerner has worked with Reliance Industries Limited for more than twenty five years on a number of chemicals and refining projects.


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