Aker Kvaerner Wins Indian Offshore Development Contract

Aker Kvaerner has been awarded a detailed engineering contract for Niko Resources' major Hazira Offshore development project in India. The contract was awarded to Aker Kvaerner by Clough Engineering Limited - Australia.

The contract is valued at approximately US$ 1.6 million, will be executed in Aker Kvaerner's Singapore office and is scheduled for completion in mid-2003.

The Hazira Offshore Field is located in the Gulf of Khambat (Cambay), offshore the West Coast of India. The project comprises installation of an offshore wellhead platform for a planned production of 150 million standard cubic feet per day of gas. The area also has the potential for production of 10,000 to 15,000 barrels of crude oil per day. Aker Kvaerner will carry out the detailed engineering for the 6-legged piled jacket and the two-level topsides structure that comprises processing facilities, utilities and main deck support facilities.

On announcing the award, Hassan Basma, Senior Vice President, Oil & Gas/Hydrocarbons, said, "This contract builds on our regional capability in the offshore oil and gas industry and confirms our ability to offer a cost-effective engineering resource for projects around Asia Pacific. It is also the first step in what we hope will be a long-term relationship in providing quality engineering services to other players in the oil and gas industry, such as Clough."