PetroChina Fushun Selects Dow and Aker Kvaerner for PP Project in China

2/13/2008, 8:00 AM (Source: GlobeNewswire)



MIDLAND, Mich. and OSLO, Norway, 13 February 2008 - PetroChina
Petrochemical Company has selected Dow's UNIPOL(TM) Polypropylene
Process Technology for its new 300 KTA polypropylene facility, and
Aker Kvaerner will provide the extended process design package and
technical advisory services.

The plant will be built in Fushun, Liaoning Province, The People's
Republic of China, and is scheduled for completion in 2010. The
world-scale facility is the fourth polypropylene plant in China over
the past 24 months to use UNIPOL(TM) Polypropylene Technology from
Dow Technology Licensing (DTL), a business group of The Dow Chemical
Company.

"I am pleased that PetroChina Fushun has chosen UNIPOL(TM)
Polypropylene Technology," said Dr. Molly Peifang Zhang, business
vice president, Dow Technology Licensing. "With this new license and
the other three UNIPOL(TM) Polypropylene licenses in China within the
past two years, Dow Technology Licensing has become a major player in
polypropylene technology in China. Our customer-focused strategy and
technological advantage will ensure the long-term success of our
customers."

This is the third polypropylene project in China that Aker Kvaerner
has been awarded within the last year.

"The award of a further polyolefins project in China recognizes Aker
Kvaerner's extensive project competence in Dow's technology and our
strategic commitment to both PetroChina and the People's Republic of
China," said Johan Cnossen, president, AK Process, part of Aker
Kvaerner.

Including the PetroChina Fushun project, UNIPOL(TM) Polypropylene
Technology will be used to produce more than 10 million metric tons
of polypropylene per year, which will be more than 16 percent of
total global capacity.

The PetroChina Fushun license agreement includes production
capability for the broadest range of polypropylene resins, including:
homopolymers, random copolymers and impact copolymers for various
grades of plastics. The well-proven UNIPOL(TM) Polypropylene
Technology, high performance SHAC(TM)Catalyst Systems and other
leading products available under the license agreement give
PetroChina a cost-effective, long-term solution for addressing
polypropylene demand.

PetroChina also selected UNIPOL(TM) Polypropylene Technology for its
200 KTA facility in Chengdu, GuangXi Province, and Aker Kvaerner is
providing the basic engineering design and certain supply equipment.

ENDS

For further information, please contact:

Media:
Jannik Lindbæk, SVP Corporate Communication, Aker Kvaerner. Tel: +47
67 51 30 36, Mob: +47 977 55 622

UK: Vanessa Mourant, Communications Manager, Aker Kvaerner. Tel: +44
(0) 207 339 1064, Mob: +44 (0)7771 806566

The Netherlands : Johan Cnossen, President AK Process, Aker Kvaerner,
Tel : +31 (0) 79 368 8555

Doug Brinklow, The Dow Chemical Company, Tel: +1 989 636 2320

Juno Chen, The Dow Chemical Company, Tel: + 86 21 3896 1687

Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Kvaerner. Tel: +47 67
51 30 39

Suppliers:
For further information about sourcing and potential subcontracts for
this project, please contact: Rodger Liang, VP Supply Management,
Process & Construction, Aker Kvaerner, Tel: +86 10 640 966 36

Career opportunities:
Visit: http://www.akerkvaerner.com/Internet/CareerCentre

Notes to Editors:

AKER KVÆRNER ASA, through its subsidiaries and affiliates ("Aker
Kvaerner"), is a leading global provider of engineering and
construction services, technology products and integrated solutions.
The business within Aker Kvaerner comprises several industries,
including Oil & Gas, Refining & Chemicals, Mining & Metals and Power
Generation. The Aker Kvaerner group is organised in a number of
separate legal entities. Aker Kvaerner is used as the common
brand/trademark for most of these entities.

The parent company in the group is Aker Kværner ASA. Aker Kvaerner
has aggregated annual revenues of approximately NOK 50 billion and
employs approximately 24 000 people in about 30 countries.

Aker Kvaerner is part of Aker (www.akerasa.com), a group of premier
companies with a focus on energy, maritime and marine-resources
industries. The Aker companies share a common set of values and long
traditions of industrial innovation. As an industrial owner with a
40.27 percent holding in Aker Kvaerner, Aker ASA takes an active role
in the development of its holdings.

Aker Kvaerner's Process and Construction business area is a world
leader in the project management, design and construction of major
projects spanning refining, petrochemical processing, metals and
mining, power generation, and acid plants. From initial concept
through technology development, process technology application,
design, procurement, construction, commissioning, operations,
maintenance, modification and decommissioning, we provide our
customers with the full life cycle of services. Process and
Construction provides sound local expertise, combined with the depth
and strength of global project operations.

AK Process is a trading name of Aker Kvaerner Netherlands BV a wholly
owned subsidiary of AKER KVAERNER ASA and the legal entity
responsible for the execution of the work. AK Process serves the
chemicals and polymers, refining and onshore oil & gas industries.
It provides the full life cycle of a project from concept studies,
through to design, engineering, project management, delivery of
process technologies, procurement, construction and maintenance
services. As a pure project execution/EPC specialist, AK Process can
provide customers with strategic 'one-off' services or full turnkey
solutions under a single project management control. It works with
its customers in the development of major technological innovations,
having participated in the conceptualisation and implementation of
ideas, which are the foundation for world-class production
facilities. Also offered are consultancy services in reliability,
business modelling and environmental, health, safety and risk
management.

Dow - With annual sales of $54 billion and 46,000 employees
worldwide, Dow is a diversified chemical company that combines the
power of science and technology with the "Human Element" to
constantly improve what is essential to human progress. The Company
delivers a broad range of products and services to customers in
around 160 countries, connecting chemistry and innovation with the
principles of sustainability to help provide everything from fresh
water, food and pharmaceuticals to paints, packaging and personal
care products. References to "Dow" or the "Company" mean The Dow
Chemical Company and its consolidated subsidiaries unless otherwise
expressly noted. More information about Dow can be found at
www.dow.com.

Dow Technology Licensing (DTL) is a business unit of Dow that markets
technologies owned by The Dow Chemical Company, Union Carbide
Corporation and their subsidiaries. DTL offers a portfolio of leading
process and catalyst technologies to the petrochemical industry
around the world. Our focus on research and development ensure the
long term competitive advantages of our customers. The local
dedicated client teams and technical resources provide timely
comprehensive services to our customers. More information about Dow
Technology Licensing can be found at www.dow.com/licensing.

®TM Trademark of The Dow Chemical Company ("Dow") or an affiliated
company of Dow


This press release may include forward-looking information or
statements and is subject to our disclaimer, see our web-pages
www.akerkvaerner.com


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