Maritime Hydraulics Wins Thunder Horse Contract

Maritime Hydraulics has signed three additional contracts with BP for the Thunder Horse project in the Gulf of Mexico. Total contract value amounts to approximately NOK 30 million.

When including previous contracts to the same project, Maritime Hydraulics' drilling equipment deliveries now amount to NOK 140 million. The above contracts strengthen Aker Kvaerner's position in one of the world's largest markets for advanced offshore equipment.

The new orders include delivery of BOP equipment and riser tensioning systems. The delivery is scheduled for the first quarter of 2003. Maritime Hydraulics is one of the world's leading suppliers of advanced drilling systems for the oil and gas industries. The company is headquartered in Kristiansand, Norway.

The Thunder Horse project is a deep-water project developed by BP with a floating production platform. Earlier this year, the Aker Kvaerner subsidiary Maritime Pusnes in Arendal, Norway was awarded a major contract for mooring equipment to the same project.