Aker Kvaerner, BP Norge Extend Long-term Contract

BP has exercised a two-year option for supply of maintenance and modification services by Aker Kvaerner in Stavanger, Norway. The contract covers all BP operated assets on the Norwegian Continental Shelf. The contract value is NOK 600 million for the period up to March 2009.

Aker Kvaerner has delivered maintenance and modification services to all BP-operated assets on the Norwegian Continental Shelf since 1999. A contract renewal was awarded to Aker Kvaerner in 2005 including three two-year options whereof the first is exercised. The contract period is extended until March 2009 with an expected contract value of NOK 600 million.

The scope of work includes front end studies, engineering, prefabrication and offshore installation and completion work on the Valhall, Ula, Tambar and Hod fields.

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