Aker Aces 2 Drilling Equipment Contracts from Daewoo for $235MM

Aker Solutions has been awarded two contracts by Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME) in Korea for delivery of drilling equipment for two ultra deepwater drillships. The total contract value for Aker Solutions is approximately US $235 million.

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

"Aker Solutions is very pleased to continue this strong relationship with Daewoo. The award of these contracts reflects the value of our well proven drilling equipment and the high degree of satisfaction from our ongoing relationship with Daewoo. This latest award also supports our goal for continued growth and development within the drilling equipment segment," remarked Roald Amundsen, President of Aker MH AS.

The drillships are scheduled for delivery Q2 2011 and Q4 2011.

The contract party is Aker Solutions subsidiary Aker MH AS.