Statoil Extends Well Service Contract with Aker Kvaerner

Statoil has extended its current well service contract with Aker Kvaerner for two additional years. The scope of work includes wireline and associated services at the Tampen and Halten/Nordland areas at the Norwegian continental shelf. The estimated contract value is NOK 400 million.

The work will be undertaken by Aker Kvaerner Well Service located in Stavanger, Norway.

"Through this contract extension, Aker Kvaerner will continue the good cooperation and working relationship with Statoil," said Ole Petter Thomesen, president of Aker Kvaerner Well Service. "We will continue to jointly develop and implement new intervention technologies to further enhance safety and increase operational efficiency."

"Aker Kvaerner has provided wireline services to Statoil for more than 20 years and we look forward to continue our excellent long term relationship," said Mads Andersen, executive vice president with Aker Kvaerner. "This important contract will secure our strong market position within well intervention services on the Norwegian continental shelf."

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