Aker Kvaerner Wins Subsea Work on Noonan Field

Aker Kvaerner has been awarded a US $14 million contract to supply subsea umbilicals to Helix Energy Solutions through its subsidiary Energy Resource Technology, Inc. This contract includes engineering and project management for the Noonan development project in the Gulf of Mexico.

Aker Kvaerner will supply main and infield Electro / Hydraulic umbilicals for Helix's Noonan project in the Gulf of Mexico. The Noonan field is the Garden Banks Block 506 located approximately 230 kilometers (145 miles) offshore from Galveston, Texas at a water depth of 820 meters (2,700 feet).

"The advantages of Aker Kvaerner's world leading dynamic umbilical technologies are clear - they are enabling solutions for deepwater fields and have become increasingly important as we move into deeper waters. Our umbilical facility in the Gulf of Mexico has a proven track record in the execution and delivery of these advanced subsea umbilicals," says Raymond Carlsen, Executive Vice President, Aker Kvaerner Subsea.

The umbilical project management, engineering, and manufacturing will be performed at the Aker Kvaerner Mobile, Alabama, USA facility. Delivery is scheduled for January 2008.

Aker Kvaerner has extensive experience delivering subsea umbilicals from the state-of-the-art facility in Mobile, Alabama. This facility has delivered more than 1,200 kilometers (770 miles) of subsea umbilicals to various clients since the start of operations in the Gulf of Mexico in 2003.

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