Aker Kvaerner to Install Sevan Hummingbird on Chestnut Field

Aker Kvaerner has signed a contract with Sevan Production Services Limited for installation of the "Sevan Hummingbird" Floating Production, Storage and Offloading unit (FPSO). The FPSO will be installed on the Chestnut field on the UK Continental Shelf, which is operated by Venture Production. The total contract value for Aker Kvaerner is approximately NOK 145 million.

Sevan Marine has developed a cylindrically shaped platform type. The Sevan hull form may be applied as a an FPSO, a drilling unit or other type applications.

The work will be undertaken by the Aker Kvaerner subsidiary Aker Marine Contractors and comprises pre-installation of the platform mooring system, as well as tow and hook up of the platform named "Sevan Hummingbird".

The platform will be installed on the Chestnut field approximately 200 km East-North East of Aberdeen in the UK sector of the North Sea. The water depth is 123 meters.

The installation of the platform mooring system is planned to commence in May 2007 using the offshore construction vessel BOA Sub C.

The tow and hook up of the platform is planned to commence in September 2007.

The platform will then be towed from Rotterdam where it is being outfitted, to the Chestnut field where it will be hooked up to the pre-installed mooring system.

The contract was booked in first quarter of 2007.

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