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Aker Solutions ASA (OSL:AKVER) 25 August 2008 - Aker Solutions has been awarded another contract for delivery of a deepwater drilling riser system to Daewoo Shipbuilding & Marine Engineering (DSME). Contract value is approximately USD 35 million. The contract is for the delivery of a complete deepwater marine drilling riser system with buoyancy package and associated equipment. The 7 500 ft system will be used for a semi submersible drilling rig that DSME is building.
This is the fourth deepwater drilling riser contract DSME has awarded Aker Solutions this year.
"We are offering a technology that focuses on safe operations and offers significant time savings when connecting the riser joints. This results in significant reduction in costs from both reduced manpower and rig operations. We are pleased that DSME and their end clients see the benefits of this technological solution," says Svein Haug, senior vice president Umbilical & Riser, Aker Solutions.
The marine drilling riser system will be manufactured and delivered out of Aker Solutions' high tech manufacturing centre in Malaysia. Buoyancy modules will be manufactured at the same centre's recently opened buoyancy production unit, by Aker Solutions subsidiary Phoenix Polymers International Ltd.
Delivery of the drilling riser systems is scheduled for 2011. Contract party is Aker Solutions Malaysia Sdn. Bhd.
ENDS
For further information, please contact: Media: Endre Johansen, communications manager, Aker Solutions. Tel: +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. As an industrial owner controlling 40.27 percent of the shares in Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the development of Aker Solutions.
This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.
