Aker Kvaerner Wins Contract for Subsea Redevelopment

Aker Kvaerner Offshore Partner Ltd. has landed a major role in the redevelopment of two North Sea oil and gas fields.

The company's Subsea Solutions Group has secured a contract for in excess of £5million from CNR International (UK) Ltd, to provide engineering, procurement and project management for the Banff area development project. The agreement consists of two separate scopes of work, in the Banff and Kyle offshore fields.

In order to enhance production in the Banff field, Aker Kvaerner Offshore Partner will provide a manifold structure /SSIV and other facilities as part of a plan to convert the field's 'shut-in water injection' wells to 'gas-lifted' production and to convert one of Banff's existing production wells to gas injection.

In the Kyle field, Aker Kvaerner Offshore Partner will provide facilities associated with re-routing production from one of the wells to CNR's 'Ramform Banff' FPSO. 'Well 14' in the Kyle field was originally planned to produce to the Banff facility, but it was eventually routed to a FPSO in the adjacent Curlew field. The original Banff to Kyle subsea pipeline / umbilical infrastructure will now be utilised to link Well 14 to the Ramform Banff.

Aker Kvaerner Offshore Partner's managing director, Harald Gulaker says the contract is an opportunity to enhance the relationship with CNR:

"Our Subsea Solutions Group has been supporting CNR throughout the Option Development and Screening phases since 2003, and this new agreement will bring our two companies even closer together. The Banff Area Development is a prime example of how innovation can maximize production and field life in the North Sea".

'First oil' from this phase of the Banff area development is anticipated in the summer of 2004.

Aker Kvaerner Offshore Partner Ltd. is one of five Aker Kvaerner companies with facilities in Aberdeen. The others are: Kvaerner Oilfield Products, Aker Kvaerner Operations, Kvaerner Process Systems, and Maritime Hydraulics.