Aker Aces 2 Contracts for Drilling Equipment

Aker Solutions has been awarded two contracts with Daewoo Shipbuilding & Marine Engineering Co Ltd in South Korea for the delivery of identical drilling equipment packages for Odebrecht's two new drillships. The total contract value for Aker Solutions is approximately USD$260 million.

The scope of work for Aker Solutions is to deliver complete drilling equipment packages consisting of engineering, equipment deliveries and commissioning services.

Mads Andersen, executive vice president of Aker Solutions, commented, "Winning this contract has reinforced our positive relationship with Daewoo Shipbuilding & Marine Engineering Co Ltd and confirms our strong position in the booming drillship market."

The customer, Daewoo Shipbuilding and Marine Engineering Co Ltd (DSME) will manufacture both the Odebrecht I and II drillship for the client Odebrecht, who are one of Brazil`s largest contractor companies with a presence in over twenty countries.

The first drillship is scheduled for delivery in Q1/2011 and the second in Q2/2011. The contract party is Aker Solutions' subsidiary Aker MH AS.