Aker Kvaerner to Provide Drilling System for Newbuild Semisub

Aker Kvaerner has been awarded a contract by Discoverer Invest in Singapore for delivery of drilling systems and equipment to a Frigstad D90 ultra deepwater semisubmersible drilling rig. The total contract value for Aker Kvaerner is approximately NOK 450 million (US$68.5 million).

"We selected Aker Kvaerner MH for their proven experience of high efficient drilling systems," says Harald Frigstad, CEO of Discoverer Invest Ltd.

The drilling package will consist of a dual version of the RamRig, an advanced drilling system developed by Aker. This system reportedly enables significantly more efficient drilling operations compared with conventional systems, particularly in deep waters.

"To be once again entrusted to deliver an advanced deepwater rig clearly demonstrates the strength of Aker Kvaerner's MH technology and capabilities within the drilling rig market," says Roald Amundsen, Aker's president. "This contract marks yet another important reference for us."

The deepwater semisubmersible drilling rig is scheduled for delivery in 2009.

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