Aker Kværner signs $75-million in drilling riser contracts

Jan. 17, 2008

Aker Kværner has signed two contracts with Daewoo Shipbuilding & Marine Engineering (DSME) for complete deepwater drilling riser systems, including buoyancy packages and associated equipment.

Offshore staff

LYSAKER, Norway -- Aker Kværner has signed two contracts with Daewoo Shipbuilding & Marine Engineering (DSME) for complete deepwater drilling riser systems, including buoyancy packages and associated equipment. The combined contract value is about $75 million.

The drilling riser systems are scheduled for a drillship and a semi rig that DSME is building. Each riser system will have a length of 7,500 ft (2,286 m).

The drilling riser systems will be manufactured and delivered out of Aker Kværner Subsea's new manufacturing center in Malaysia. Buoyancy modules will be manufactured by Aberdeen-based Phoenix Polymers International Ltd.

Delivery of both drilling riser systems is scheduled for 2010.

Aker Kvaerner announced in November that Aker Kvaerner MH in Kristiansand, Norway, would deliver drilling equipment packages to these two DSME vessels.

1/17/2008