Aker Kvaerner Wins Drilling Equipment Contract

Aker Kvaerner said that it has signed a contract with MPF Corp. Ltd. for the delivery of drilling equipment to the Multi Purpose Floater (MPF) drillship. The total contract value for Aker Kvaerner is approximately NOK450 million (US$71 million).

The drilling package is designed for worldwide, harsh-environment, and ultra-deepwater drilling operations.

The contract is being undertaken by the Aker Kvaerner subsidiary, Aker Kvaerner MH in Kristiansand, Norway.

The delivery consists of a complete drilling equipment package: derrick and associated equipment, drillfloor and pipedeck equipment with control system, tensioning systems, mud handling equipment, and subsea handling equipment.

“Our delivery to MPF Corp. Ltd. demonstrates the flexibility and versatility of our products and solutions,” said Roald Amundsen, president of Aker Kvaerner MH. “The delivery to MPF will be based on a solution delivered to ultra-deepwater semi-submersibles and will be adapted to fit their multipurpose floater. This execution philosophy will also ensure quality and timely delivery.”

The drilling equipment package will be delivered sequentially starting Fourth Quarter 2007.

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