The contract is for the engineering, procurement, construction, load-out and sea-fastening of the three jackets and piles.
The total contract value is approximately NOK 750 million. Through this contract award, Aker Verdal has once again demonstrated its competitiveness in a tough international jacket market.
Based on a large number of challenging jacket and heavy steel structure projects executed continuously by Aker Verdal throughout the last 15 years, the yard has developed a very streamlined and efficient project execution model for this type of project. "We have put a tremendous effort into continuously improving and refining our project execution model, and this work has resulted in great changes in our company. Today's contract award shows clearly what can be achieved when you have willingness and ability to change" says Arnstein Ansnes, President of Aker Verdal.
The Buzzard project will be executed in close co-operation between Aker Verdal and Aker Kværner Technology.
The detail engineering, which will be performed by Aker Kværner Technology, starts immediately, while the fabrication activities at Aker Verdal will start in the spring 2004.
All three Buzzard jackets will be delivered in 2005, and will be number 31, 32 and 33 in the series of jackets from Aker Verdal.
This contract has been awarded "subject to approval of the Buzzard Development" by the UK Department of Trade and Industry and the Buzzard co-venturers. Approval of the Development is anticipated before year-end.
The Buzzard field is situated in approximately 100 metres of water, 30 miles north east of Peterhead, and is being developed by EnCana (U.K.) Limited together with its co-venturers, Intrepid Energy Limited, BG Group and Edinburgh Oil & Gas plc.
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For more information, please contact:
Media
Geir A Drangeid, Senior Vice President Group Communications, Aker Kværner ASA
Tel: +47 913 10 458
Investor Relations
Tore Langballe, Vice President Investor Relations, Aker Kværner ASA
Tel: +47 907 77 841
Aker Kvaerner
is a leading global provider of engineering and construction services, technology products and integrated solutions. Group activities span a number of industries, including Oil and Gas upstream and downstream, Process, Pharmaceuticals, Metals, Power, Chemical Pulping, Environmental and Shipbuilding. Aker Kvaerner is a multi-local group of businesses with nearly USD 6 billion of annual revenues and around 33 000 employees in more than 30 countries.