Aker Kvaerner Invests in Facility in Malaysia

Aker Kvaerner has decided to invest NOK 250 million in a new production facility to increase the capacity to deliver products and subsea equipment. The new facility will be located in Malaysia.

In addition to serving the regional market, this facility will also contribute to Aker Kvaerner's subsea equipment deliveries in other parts of the world. The plant may at a later stage be utilised for other products delivered by Aker Kvaerner.

Production at the new facility will start prior to year-end 2006, and will initially produce subsea equipment for the Kikeh development offshore Malaysia. Murphy Sabah Oil awarded Aker Kvaerner the Kikeh development contract in July 2005.