Maritime Hydraulics to Provide Derricks for Sakhalin Island

The Aker Kvaerner subsidiary, Maritime Hydraulics, Norway has recently signed a contract with Varco, for the delivery of two derricks to Sakhalin Energy Investment Co. The contract is worth approximately NOK 50 million.

The derricks will be placed on production platforms offshore the Sakhalin Island north of Japan. The project starts up immediately, and the delivery is scheduled for the end of 2004.

"Varco has traditionally been one of Maritime Hydraulics' competitors within the field of drilling structures, however the company has now decided to leave this market, thus providing Maritime Hydraulics with new opportunities, says Sales Manager Vidar Skjelbred optimistically. He adds that the engineering will take place at Dvergsnes in Kristiansand, Norway, whereas the construction will be carried out at subcontractors' facilities.

Aker Kvaerner has won a number of contracts with Sakhalin Energy Investment Co. and is already well established at the Sakhalin Island with an ongoing project including engineering, procurement, management and project services for two platform substructures.