Aker Kvaerner wins Baytown Cogeneration power plant contract with ExxonMobil

April 3, 2003 — Aker Kvaerner has been awarded a lump sum detailed engineering, procurement and construction (EPC) contract from ExxonMobil for the 160 MW natural gas-fired turbine generator and heat recovery steam boiler in Baytown, Texas.

The contract will be executed by Kvaerner Industrial Constructors (KIC) a division of Aker Kvaerner in Houston, Texas. Detailed design and major procurement items will begin immediately and construction in mid-summer 2003. Mechanical completion is scheduled for late 2004.

Jon Erik Reinhardsen, Executive Group Vice-President of Aker Kvaerner stated, “We are very excited to have received this contract with ExxonMobil and look forward to our collaborative efforts with them.”

Aker Kvaerner is a global provider of engineering and construction services, technology products and integrated solutions. Group activities span a number of industries, including Oil and gas upstream and downstream, Process, Pharmaceuticals, Metals, Power, Chemical, Pulping, Environmental technologies and Shipbuilding. Aker Kvaerner is a multi-local group of businesses with nearly USD 6 billion of annual revenues and around 33 000 employees in more than 30 countries.