AKCS Wins White Rose Contract

Husky Operations Limited has awarded AKCS Offshore Partner the EPC and Maintenance Support Services contract in connection with the production and operations of the White Rose Field. The contract is valued at approximately CAD $75 million for a period of five years, with option for renewals for fifteen successive periods of one year each. AKCS Offshore Partner consists of Aker Kvaerner Offshore Partner AS (40%), SNC-Lavalin Inc. (40%) and G.J. Cahill and Company Limited (20%). The total value to the AKCS consortium of the five year contract is approximately CAD $75 million.

The scope of the contract includes:

--Engineering Design, Modifications & Support Services
--Campaign Maintenance Services
--Field Development Planning, Feasibility and Engineering Concept Development
--Subsea and FPSO Moorings Support and Engineering Services

"AKCS Offshore Partner has had a long lasting cooperation with Husky through the partner's participation in the White Rose project and the existing Engineering Support and Related Services contract. The new contract confirms our competitiveness," says Mr. Harald Gulaker, AKCS Contract Sponsor.

The project management and engineering will be performed at the AKCS office in Atlantic Place, St. John's, Newfoundland and Labrador.