Aker Aces $240MM in Drilling Equipment Contracts from Sevan

Aker Solutions has signed contracts for delivery of two drilling equipment packages, and an option for a third package, with Sevan Marine ASA. The total contract value for the two firm contracts for Aker Solutions is approximately US $240 million.

The contracts will cover delivery of complete drilling packages consisting of engineering and equipment deliveries, for drilling rigs that Sevan Marine is building.

Aker Solutions is well underway with deliveries for Sevan's first drilling rig, to be delivered in 2009.

"We are very pleased that Sevan again has awarded us these drilling equipment contracts. This further strengthens our relationship with Sevan Marine," said Mads Andersen, Executive Vice President of Aker Solutions.

These contracts will be booked as order intake in 3Q 2008. The contract party is Aker Solutions' subsidiary Aker MH AS.

These harsh environment ultra deepwater drilling rigs are scheduled for delivery end 2010 and end 2011. The drilling rigs will be designed for worldwide operations.


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