BP, Aker Kvaerner Extended Contract

BP has exercised a two year option for supply of maintenance and modification services by Norwegian firm Aker Kvaerner.

The contract covers all BP operated assets on the Norwegian Continental Shelf. Contract value is NOK 600 million for the period up to March 2009.

Aker Kvaerner has delivered maintenance and modification services to
all BP operated assets on the Norwegian Continental Shelf since 1999.

A contract renewal was awarded to Aker Kvaerner in 2005 including
three two year options whereof the first is exercised. The contract
period is extended until March 2009 with an expected contract value
of NOK 600 million.

Scope of work includes front end studies, engineering, prefabrication
and offshore installation and completion work on the Valhall, Ula,
Tambar and Hod fields.