Aker Kvaerner Acquires 3D Drilling Simulation and Visualisation Company |
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Aker Kvaerner
12657 AlCosta Blvd., Suite 200
San Ramon, CA, 94583
USA
Press release date: February 14, 2008
14 February 2008 - Aker Kvaerner has acquired a majority shareholding in the Norwegian company First Interactive AS. The agreement includes an option to buy the remaining shares.
"Aker Kvaerner is recognised for its development of innovative deepwater drilling technologies, satisfying the industry's requirements for efficiency, safety and operability. Acquisition of this technology and competence is a strong strategic lever for us going forward", says Mads Andersen, executive vice president in Aker Kvaerner.
First Interactive AS is a software company specialising in 3D visualisation and simulation for the oil & gas sector. First Interactive has headquartered in Stavanger, Norway, with a subsidiary in St. Petersburg, Russia. In 2007, First Interactive realised revenues in excess of NOK 25 million.
First Interactive and the Aker Kvaerner subsidiary Aker Kvaerner MH, are jointly developing applications for 3D visualisation and simulation of offshore drilling operations. A new generation drilling simulator, enabling realistic 3D visualisation and real-time scenario building, is already launched. The simulator will primarily be used for training of rig operators, but also enables significant reduction in commissioning of drilling rigs currently under construction. The two companies are currently developing solutions for real-time, 3D visualisation of drilling operations which will enable onshore support and control of offshore operations. First Interactive's technology and competence can also be applied to other parts of Aker Kvaerner's business such as marine installation, subsea and well services.
"A realistic, real-time visualisation of the drilling operations will enable rig operators to make better and faster decisions. The result is more efficient drilling, and increased rig uptime. In addition this tool enables us to offer superior training facilities for our clients as well as our own employees," says Roald Amundsen, President of Aker Kvaerner MH.
First Interactive AS is a Norwegian software company located in Stavanger, Norway, with a R&D department in Russia and Ukraine. The company was founded in 2000 as a real-time 3D development firm and specializes in software solutions for real-time 3D and multimedia professionals.
AKER KVÆRNER ASA, through its subsidiaries and affiliates ("Aker Kvaerner"), is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals and Power Generation. The Aker Kvaerner group is organised in a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities.
The parent company in the group is Aker Kværner ASA. Aker Kvaerner has aggregated annual revenues of approximately NOK 50 billion and employs approximately 24 000 people in about 30 countries.
Aker Kvaerner is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine-resources industries. The Aker companies share a common set of values and long traditions of industrial innovation. As an industrial owner with a 40.27 percent holding in Aker Kvaerner, Aker ASA takes an active role in the development of its holdings.
Aker Kvaerner MH is a market leader in designing drilling equipment and drilling facilities. The company is recognised for developing new technology for deepwater drilling based on field-proven drilling equipment. Aker Kvaerner MH provides the international onshore and offshore industry with complete drilling equipment packages/modules (drilling and/or mud related systems, RamRig or conventional), full range of itemised drilling equipment, well intervention packages, drilling support modules, drilling control system, and monitoring systems as well as land rigs packages, workover rigs and products. Aker Kvaerner MH's competitiveness is based on a unique combination of equipment deliveries, project execution capabilities and excellent after sales service.
For further information, please contact:
Media: Siw Anett Enerud communications manager Aker Kvaerner Products & Technologies. Tel.: +47 22 94 71 92 Mob.: 047 95 19 34 15
Investor relations: Lasse Torkildsen SVP Investor Relations Aker Kvaerner. Tel: +47 67 51 30 39 Mob: +47 911 37 194
Suppliers: For further information about sourcing and potential subcontracts for this project, please contact Richard Reynolds vice president global supply chain. Tel.: +44 1224 424868
Career opportunities: Visit http://akerkvaerner.com/Internet/CareerCentre
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