Maritime Hydraulics Wins Contract from AIOC

The Aker Kvaerner subsidiary, Maritime Hydraulics, has signed a memorandum of understanding with the Azerbaijan International Operating Company (AIOC), which is operated by BP. The contract is worth approximately NOK 120 million.

The scope is to deliver a complete drilling installations for the Azeri-Chirag-Gunashli (ACG) Phase 3-project in the Azerbaijan sector of the Caspian Sea. The agreement is subject to project sanction and partner approval.

Comprised in the delivery is a complete drilling equipment package for one offshore platform in the Caspian Sea scheduled for delivery in Q3/2005. Maritime Hydraulics will also provide training and long term operational support in Baku, Azerbaijan.

The supply will consist of a complete package including pipe-handling equipment and drilling machinery, as well as an advanced computerized control system.

The drilling facility will be fully automated with the most advanced control system available in the market today. It will meet the most demanding requirements for safety, efficiency and working environment.

Maritime Hydraulics will be responsible for project supervision and expertise for testing and start-up of the drilling facilities. Project implementation and engineering will start in October 2004 and will be carried out in Kristiansand, Norway.

"To win this fourth contract for BP in the Caspian Sea shows that Maritime Hydraulics is one of the world's leading suppliers of such advanced solutions", says Roald Amundsen, President of the company.

Maritime Hydraulics has previously signed major contracts with BP such as at ACG Central Azeri, ACG West Azeri and ACG East Azeri in the Caspian Sea, as well as the Valhall project in the North Sea and the Thunder Horse in the Gulf of Mexico.