Aker Solutions Seals $35 MM Daewoo Drilling Riser Deal

Aker Solutions has been awarded another contract for a deepwater marine drilling riser by Daewoo Shipbuilding & Marine Engineering (DSME). Contract value is approximately $35 million. The contract is for the delivery of a complete deepwater marine drilling riser system with buoyancy package and associated equipment. The system is for a drillship that DSME is building.

"DSME is one of the world's major players when it comes to building drilling units for deepwater and ultra-deepwater conditions, so they are an important customer," said Svein Haug, senior vice president Umbilical & Riser, Aker Solutions. "This is the third contract we are signing with DSME this year, which underlines what a good match our deepwater technologies are."

The marine drilling riser system will be manufactured and delivered out of Aker Solutions' high tech manufacturing centre in Malaysia. Buoyancy modules will be manufactured at the same centre's recently opened buoyancy production unit, by Aker Solutions subsidiary Phoenix Polymers International Ltd.

Delivery of the drilling riser systems is scheduled for 2010. Contract party is Aker Solutions Malaysia Sdn. Bhd.

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