Press Release

No.: 71/99
Date: 27.10.99

Aker Maritime's request to be evaluated as a potential licensee and operator on the Norwegian Continental Shelf

The Ministry of Petroleum and Energy and the Ministry of Local Government and Regional Development have completed a preliminary evaluation of Aker Maritime. The company has requested to be evaluated as a potential licensee and operator for marginal fields and tail end production on the Norwegian Continental Shelf. The Ministries have evaluated technical and geological competence, safety and environmental matters, and financial capacity.

- Based on general knowledge about the Aker Maritime group, the Ministries have found that the company has a wide competence, which creates a good basis to qualify as a licensee and operator on the Norwegian Continental Shelf, says the Norwegian Minister of Petroleum and Energy Marit Arnstad.

Aker Maritime has limited operational experience, but it is presumed that the company will obtain such competence.

As concerns competence and experience regarding broader environmental matters, the Ministry of Petroleum and Energy has identified a need for a significant upgrade within this area to completely qualify as an operator.

After the preliminary evaluation by the Ministry of Petroleum and Energy, it has been concluded that the considerations regarding financial capacity can be managed through establishing systems connected to reporting of financial figures, solidity, warranties and insurance. As regards this criterion there are, in principle, no objections against Aker Maritime as an operator on the Norwegian Continental Shelf.

It is emphasised that the evaluations above concern marginal fields and tail end production.

A final evaluation of all the above-mentioned issues will have to be carried out in relation to an application for consent of transfer of a participating interest and an operatorship.

Contact:
Sissel Edvardsen, +47 22 24 61 09