Aker Kvaerner Wins Thailand Subsea Work from ChevronTexaco

Chevron Offshore Thailand Ltd. has awarded Aker Kvaerner's subsea business a three year contract for supply of surface wellhead equipment and associated services to be used within its Gulf of Thailand operations. The estimated value of the contract is in the US $12 to $14 million range over the three year term.

Aker Kvaerner's subsea and wellhead business, Kvaerner Oilfield Products (KOP), will deliver the surface wellhead products from its manufacturing plant located on Batam Island in Indonesia. The project will entail supplying approximately 75 to 100 sets of surface wellheads and Xmas trees per year over a three-year period. KOP will provide associated installation and maintenance services from its service support centers in Sattahip and Bangkok in Thailand.

Raymond Carlsen, Executive Vice President for Aker Kvaerner, commented: "The award of this contract ensures that the relationship between KOP and COTL, which began in 2000, will continue through 2008. Having recently been awarded a similar supply and service contract by Unocal Thailand valued at almost USD 35 million, this further confirms the strategic importance of the region in the continued growth of KOP."