Aker Kvaerner, SKF Sign Condition-based Maintenance Contract

Aker Kvaerner and SKF have established a partnership for Condition Based Maintenance (CBM) for the offshore and onshore oil and gas industry. Condition Based Maintenance reduces plant downtime, increases equipment reliability and reduces maintenance by means of optimized maintenance and inspection programs, real time monitoring systems and world-class competency.

The agreement integrates Aker Kvaerner's broad competence in engineering, planning and maintenance with SKF's expertise related to rotating equipment, bearing and lubrication technologies, condition monitoring, integration and analysis. The initial focus of the partnership will be to secure customers and installations in the North Sea and onshore in Norway, with plans to expand internationally.

Aker Kvaerner is a leading provider of maintenance, modification and operations services in the North Sea, and has established a unique competence through long term contracts with the operating companies on the Norwegian Continental Shelf. The company currently serves customers in Norway, the UK, Canada and USA.

SKF's contribution to the partnership is its unique competence with rotating machinery, built on 100 years of solution development. SKF provides proven Condition Based Maintenance solutions within all industrial segments globally, with a track record of reduced cost and improved profitability for its customers.

"The partnership with SKF is very exciting to Aker Kvaerner in a broad perspective," said Tore Sjursen, President of Aker Kvaerner Offshore Partner. "This partnership implies outstanding business opportunities not only in the North Sea but also internationally. We are connecting two strong companies, each with extremely wide ranging experience. By combining our competencies and abilities we are able to provide our customers unrivalled added value."

"To achieve even greater customer value and innovation, such partnering initiatives are crucial," said Ole Kristian Joedahl, Regional Director, SKF Nordic Region. "Both companies have global presence and provide complementary technology and customer portfolios to each other. By joining forces we can provide unique services across borders and create even more customer value."

Aker Kvaerner ASA is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals and Power Generation.