Aker Kvaerner Wins Neptune Contract

Aker Kvaerner has been awarded a contract with Neptune Marine & Drilling Pte Ltd in Singapore for delivery of drilling equipment to the Neptune Explorer drillship. The total contract value for Aker Kvaerner is approximately US$23 million.

"This contract which consists of derrick drill floor equipment and motion compensation is based on Aker Kvaerner MH's standard drilling equipment,” said Roald Amundsen, president of Aker Kvaerner MH. “This contract with Neptune is our latest project that will benefit from standardization of our drilling equipment.”

The drilling equipment package will be delivered in either late 2006 or early 2007.

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