Udnes Tronstad to Head Aker Kvaerner Verdal

Aker Kvaerner ASA announced that Nina Udnes Tronstad, 48, is joining the company as President for the offshore yard at Verdal.

Udnes Tronstad comes from a position as Executive Vice President for HSE in Statoil, where she has been a member of the corporate executive committee since April 2005. She will start 1 September 2007 and will report to Bjornar Skjevik, who will return to his position as head of Aker Kvaerner's fabrication yards.

"I'm very pleased to announce Nina Udnes Tronstad as a new President of Aker Kvaerner Verdal," said Aker Kvaerner Executive Vice President Simen Lieungh. "She has an impressive track-record in the oil and gas industry and will play a crucial role in developing the yard further."

The team of Presidents at Aker Kvaerner's Norwegian offshore yards will consist of:

--Nina Udnes Tronstad, Aker Kvaerner Verdal
--May-Wenche Hammert, Aker Kvaerner Egersund
--Stian Vemmestad, Aker Kvaerner Stord

Udnes Tronstad resides with her family at Inderoy, not far from Verdal. She joined Statoil in 1983 and has had a number of managerial positions in the Statoil, including at its Danish and Swedish subsidiaries. Udnes Tronstad has management experience from Statoil's Mongstad refinery and has been vice president for information technology. She was operations vice president for the Kristin project in the Norwegian Sea in the Exploration & Production Norway business area from 2001 to March 2005. She is a chemistry graduate from the Norwegian University of Science and Technology in Trondheim. Elective posts: Director of Eitzen Maritime Services ASA.

Aker Kvaerner Verdal is a specialized offshore yard for engineering and building large steel constructions and steel substructures for the offshore oil industry. Since Aker Kvaerner Verdal was established in 1970, it has also delivered a wide range of floating and fixed installations to the oil industry in the North Sea. Ten semisubmersible platforms, 33 steel jackets, and a large number of modules and decks, sub-sea templates, bridges, flare towers and a loading buoy have been delivered. Currently, the yard is building the hull for the semisubmersible platform Blind Faith that will operate in the Gulf of Mexico. It also has a steel jacket for Valhall in the pipeline, scheduled to start construction later this year.

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