Aker Kvaerner Performs Next Phase of DeepStar Program

Aker Kvaerner has been awarded the contract for next phase of the DeepStar Program in Gulf of Mexico. DeepStar, consisting of 12 leading deepwater operations, will evaluate new technology scenarios to help identify what it will take to make smaller deepwater reservoirs economic. Aker Kvaerner has been selected to execute the technical and economic studies that will be needed.

In this contract, Aker Kvaerner's engineering resources in Houston will perform DeepStar's next Systems Engineering effort, called "Techno-Economic Evaluation of Marginal Fields", in Phase VI of the Program. Three fictitious reservoirs that represent what is believed will be the most likely deepwater reservoir size have been selected to base the study upon. The reservoirs have been defined to represent the Gulf of Mexico in 5,000 and 10,000 feet of water and West Africa in 5,000 feet of water.

"This award underlines our strong position in the overall deepwater development market segment", said Knut Eriksen, Senior Vice President and head of the Deepwater Group. "Aker Kvaerner's broad expertise in floating production systems, subsea systems, drilling systems and our ability to integrate the various deepwater building blocks into systems is clearly recognized", states Eriksen.