Aker Kvaerner to Supply Drilling Equipment to CNOOC

Aker Kvaerner takes further strides into the Chinese market by signing two deals with China National Offshore Oil Corporation (CNOOC). One contract is for the delivery of a complete marine drilling riser system and associated equipment, while the other is for delivery of mooring equipment to a new deepwater semi submersible drilling unit. Contract values are undisclosed.

The marine drilling riser system has a total length of 7 500 ft.

"The Chinese deepwater market has tremendous potential. Up until now most of the oil exploration in China has been in shallow waters. However, CNOOC is now taking their efforts to a new level. We are honored that they consider our technologies best suited to match their ultra deepwater ambitions," says Raymond Carlsen, executive vice president, Aker Kvaerner Subsea.

The marine drilling riser system will be manufactured and delivered out of Aker Kvaerner Subsea's new high tech manufacturing center in Malaysia. Delivery is scheduled for Q2, 2010. Aker Kvaerner subsidiary, Aker Kvaerner Pusnes will deliver its well-proven mooring equipment to CNOOC's drilling rig.

"We set up our manufacturing center in Malaysia to capitalize on the expected subsea boom in the Asia-Pacific region. This first delivery to the Chinese offshore market is another proof that it was the right thing to do," says Carlsen.

Aker Kvaerner has previously announced that the company is also delivering drilling equipment and system for CNOOC's ultra deepwater drilling semi-submersible rig through subsidiary Aker Kvaerner MH.

"We are once again showing that our ability to combine efforts and deliver from several of Aker Kvaerner's business units while operating as 'one' Aker Kvaerner is something our clients find appealing. The range of products and services we offer is fairly unique. We will continue to use this to our advantage," concludes Carlsen.