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Aker Solutions ASA 3 July 2008 - After the inauguration of the new drilling riser manufacturing facility in Rio das Ostras, Aker Solutions has signed an agreement with Queiroz Galvão Óleo e Gás S.A. for the delivery of a fourth deepwater marine drilling riser system. The value of the agreement is approximately USD 55 million.
The project scope comprises the production of a deepwater marine drilling riser system, including tools and buoyancy modules, for the rig Alpha Star, which will be able to operate in water depths up to 2,700 meters in Brazil, Gulf of Mexico, West Africa and Southeast Asia.
Delivery of the deepwater marine drilling riser system is scheduled for Q3 2010. The system will be manufactured at Aker Solutions' facility in Rio das Ostras, Brazil.
"The Brazilian oil and gas industry will contract a large amount of drilling units in the next decade. With local manufacturing and our exclusive CLIP Connector technology on offer, we are prepared to supply the drilling market needs with local content and with high-end riser technology," says Marcelo Taulois, president of Aker Solutions' subsea business area in Brazil.
The deepwater drilling risers manufactured in Rio das Ostras use the CLIP Connector technology. The technology is exclusive to Aker Solutions and offers significant time savings when connecting the riser joints, thereby offering rig operators considerable reduction in costs from both reduced manpower and rig operations.
The current drilling riser projects being undertaken at the Rio das Ostras facility comprise the rig Olinda Star, which will operate in water depths up to 1,100 meters; the Gold Star, which will operate at depths up to 2,000 meters; and the Lone Star, which is capable of operating in water depths up to 2,400 meters.
The contract party is the legal entity of Aker Solutions in Brazil. The contract is booked as order intake in Q2 2008.
ENDS
For further information, please contact:
Media: Marcelo Taulois, president Aker Solutions' subsea business area in Brasil, + 55 (41) 3227-8402. Fernanda Bacelar, communication officer, Aker Solutions in Brazil, + 55 (41) 3227-8466 Endre Johansen, communications manager, Aker Solutions, +47 22 94 58 91, Mob: +47 416 10 605, E-mail: endre.johansen@akersolutions.com
Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions' business serves several industries, including oil &gas, refining & chemicals, mining & metals and power generation. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities.
Aker Solutions' parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 58 billion and employs approximately 24 000 people in about 30 countries.
Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. Through its majority-owned holding company Aker Holding AS, Aker controls 40.27 percent of the shares in Aker Solutions, and takes an active role in the development of the company.
This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.
