Maritime Hydraulics To Supply Drill Package To Caspian Sea Project

The Aker Kvaerner subsidiary, Maritime Hydraulics, will be supplying a complete drilling package for the development of a large oil and gas field in the Caspian Sea. In total, the order is worth an estimated NOK 120 million. The advanced drilling systems, which will also be prepared for remote operation from shore, will be ready to start operations in 2004.

"Maritime Hydraulics is one of the world’s leading suppliers of such advanced solutions," says Roald Amundsen, the company's president. "The Caspian contract strengthens our position and places us well with respect to future similar opportunities in this area." Amundsen believes that references and experience from similar projects in Norway and Azerbaijan were decisive in securing the contract. The drilling module will be wholly automated with the market's most advanced control system. It will meet the most demanding requirements for safety, efficiency and the working environment.

The contract will consist of a complete package including pipe-handling equipment and drilling machines as well as the advanced computerized control system. Maritime Hydraulics will also contribute engineering services, project management and expertise for testing and start-up of the equipment.

The drilling package forms part of the first phase of the large ACG Full Field Development project, which calls for a combined drilling and production platform. The platform is due to come into operation in 2004. The joint venture Azerbaijan International Oil Company is responsible for the development.

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