Aker Kvaerner Celebrates MultiBooster Success


5 December 2007 - Aker Kvaerner today celebrates the success of the company's MultiBooster pump technology that is now operational at BP's King field in the Gulf of Mexico. BP expects the two subsea pumps to enhance production by an average of 20 percent.

The successful installation marks a breakthrough for Aker Kvaerner's subsea multiphase pumping technology. It also breaks two world records for this technology as it is applied in water depths in excess of 1 700 metres, with more than 29 kilometres step-out from the platform. Aker Kvaerner has delivered two complete subsea pump systems and a spare pump currently stored at the company's service facility in Houston.

"This truly is a major breakthrough for our subsea technology," says Svenn Ivar Fure, senior vice president Trees / Processing & Boosting at Aker Kvaerner Subsea. "We are confident that our MultiBooster subsea system will increase oil production and recovery rates significantly. We congratulate BP and their excellent project team for taking this technology into use."

"We also hope this news will function as a springboard for other oil operating companies interested in this technology," adds Fure.

Aker Kvaerner's MultiBooster subsea system increases oil production and recovery rates, extends the useful life of fields and enables longer step-out distances between subsea assets and host facilities by adding energy to the wellstream.

The MultiBooster pumps have been engineered and produced at Aker Kvaerner's subsea facility in Tranby, Norway. The Aker Kvaerner subsidiary, Aker Marine Contractors, installed the MultiBooster pumps in the Gulf of Mexico.

The contract was first announced by Aker Kvaerner on 4 October 2005.

AKER KVAERNER 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 KvaernerASA. 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 Subsea is a leading provider of a complete range of surface and subsea solutions for the oil and gas industry - from concept screening and design through manufacturing, fabrication and commissioning. Aker Kvaerner Subsea's ability as a world-wide total system provider is backed by a wide portfolio of products which are maintained for the complete life of field. Aker Kvaerner Subsea's capability is available for both new and existing fields either as individual activities or complete packages.

For further information, please contact:

Media:

Torbjorn S. Andersen
SVP Group Communications
Aker Kvaerner.
Tel: +47 67 51 30 36
Mob: +47 928 85 542

Endre Johansen
communications manager
Aker Kvaerner Subsea.
Tel: +47 22 94 58 91
Mob: +47 416 10 605
E-mail: endre.johansen@akerkvaerner.com

Suppliers: For further information about sourcing and potential subcontracts for this project, please contact:

Harald Grieg Riisnaes
vice president
Global Supply Chain
Aker Kvaerner Subsea
Tel: +47 67 82 68 18

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

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