Aker Kvaerner and ExxonMobil Extend Long Term North Sea Contract


25 January 2008 - ExxonMobil Exploration and Production Norway AS has exercised a two year option in their term contract with Aker Kvaerner in Stavanger, Norway. The contract covers all ExxonMobil operated assets in the Norwegian Continental Shelf.

"By exercising this option ExxonMobil show their satisfaction of the services Aker Kvaerner is delivering under this long term service agreement. We are very proud of being ExxonMobil's preferred supplier and that they recognise our company and our services as value adding to their operations", says Tore Sjursen, President of Aker Kvaerner Offshore Partner in Norway.

Aker Kvaerner was awarded the Esso Broad Scope Services Agreement (BSSA) in 1998, covering technical support, maintenance and modifications services onshore, inshore and offshore related to assets in Norway and at the Norwegian Continental Shelf. The contract includes three additional two year options. ExxonMobil operates the Balder, Ringhorne, Jotun A and Jotun B assets, covered by the contract.

Long term service contracts are core business to Aker Kvaerner in the maintenance, modifications and operations business segment. Such contracts are the foundation for development of our competencies, knowledge base and our tools and methods. Close relationship and cooperation with our clients under such contracts creates a unique environment for establishment and delivery of optimal services to our clients and their operating assets.

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 per cent holding in Aker Kvaerner, Aker ASA takes an active role in the development of its holdings.

For further information, please contact:

Media:
Jannik Lindbæk jr., SVP Corporate Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mob: +47 977 55 622

Bjørn Øistein Bergseth, VP Business Development & Communications, Aker Kvaerner MMO. Tel. +47 51 89 75 74, Mob. +47 900 23 626

Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39

Career opportunities:
Visit http://akerkvaerner.com/Internet/CareerCentre

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