Aker Kvaerner Delivers Environmental Technology to Statoil

Aker Kvaerner has signed a contract with Statoil for design and delivery of the world's largest system for capturing and recovering crude oil vapors. The new system will treat all vapors emitted from ship loading of crude oil at the oil company's Mongstad terminal at the Norwegian West coast. The plant will be in operation by end of 2007/beginning of 2008. The total contract value for Aker Kvaerner is approximately NOK 115 million.

The new unit is based on Aker Kvaerner's in-house carbon bed adsorption technology and allows capturing and recovering volatile organic compounds (VOC), which are vapors typically emitted during loading and offloading petroleum products. The new installation will be part of Statoil's VOC reduction project at the Mongstad terminal.

The VOC unit will treat all vapors emitted from ship loading of crude oil at the terminal. The peak capacity of the unit is 36 000 cubic meters per hour vapor rate. In order to meet the Norwegian Pollution Control Authority directives for VOC abatement on the premises, Statoil selected Aker Kvaerner's solution after careful evaluation of alternative technologies.

"Entering this agreement with Statoil, for supply of the world's largest VOC recovery unit, confirms Aker Kvaerner's position as a world class vendor of VOC recovery units", says Morten Reimer Hansen, President of Aker Kvaerner Cool Sorption, which is the Aker Kvaerner company responsible for delivering the system.

The contract has been signed subject to final approval from Statoil management.