Re Contract

RNS Number:6715M
Kvaerner PLC
6 November 2001


Kvaerner secures US$36.5 million contracts for gas processing facilities in
Canada and Venezuela

LONDON, 6 NOVEMBER 2001: Kvaerner, the international engineering and
construction Group, today announced that it has been awarded two contracts
worth more than US$36.5 million.  The larger contract is with Westcoast Energy
Inc. of Vancouver, Canada, for valued at US$34 million, for the engineering,
design, fabrication, construction and commissioning of a gas processing
facility.

In addition, Kvaerner Process Systems has been awarded a CO2 Membrane Gas
Removal unit to be installed in Venezuela by the State Petroleum organisation,
PDVSA, for it's Bitor field.

The facility is located in the north eastern part of the Province of British
Columbia, Canada, an area well known for its established gas reserves and
further development potential.  Construction, completion and commissioning are
scheduled for June of 2002.


For more information:   Paul Emberley, Vice President Group Communications:
[phone] or  [phone] or [e-mail] or
Dean Olafson, Kvaerner Process Systems: [phone] or
[e-mail] Carl Lieungh, President, Kvaerner Process
Systems: [phone] or [e-mail]

Note to editors:Kvaerner is a world-class international engineering and
construction group. The Group's activities are organised in two core business
areas: E&C (engineering and construction), and Oil & Gas.  It also has
interests in shipbuilding and the provision of services to the pulping
industry.  Kvaerner is a Norwegian registered business, but has a London,
UK-based international headquarters.  The Group has annual revenues of more
than US$6 billion, with some 35,000 permanent staff located in almost 35
countries throughout Europe, Africa, Asia and the Americas.