Aker Kvaerner Expands Subsea Service

Norwegian engineering company Aker Kvaerner is to expand its subsea service in a US$60m deal to provide equipment and personnel to the world's first deepwater subsea equipment support vessel (SESV).

The agreement between Aker Kvaerner Subsea and subsidiary Aker Oilfield Services is part of a contract with Brazil's national oil company, Petrobras to supply and operate the deepwater intervention SESV, in water depths of up to 2,000m.

Aker Oilfield Services is scheduled to begin work in 2010.

The group also announced today that deliveries of two oil rigs to Aker Drilling would be delayed but stressed that earnings would not be affected.

Delivery of the Aker Spitsbergen rig will be delayed until July 2008 and the Aker Barents will be delayed until December 2008, the company announced.

By staff writer