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Aker Kvaerner Moscow admits police "inquiry"


Published Mar 30, 2007
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Kremlin

The Moscow office of Norway-based supplier contractor Aker Kvaerner Engineering and Technology have been raided by Russian police, it was learned Friday.

An Aker Kvaerner statement late in the day said police had “inquired” about a complaint from a former Russian business partner over the company’s 56-percent stake in Astrkhan Korabel, bought recently from Finnish company RR Offshore Oy.

“The acquisition was conducted in accordance with Aker Kvaerner's contractual rights under credit facility and pledge agreements with RR Offshore Oy and in accordance with all relevant laws and regulations,” chief exec Martinus Brandal said in a statement.

Norwegian newswire NTB, meanwhile, reported Aker Kvaerner angered stakeholders in Russian rig-building outfit Astrakan Korabel for taking a 56 percent equity interest in the company as part of a loan for shares agreement.

The news bureau cited a report from Russian paper Kommersant that Astrakan owner Dimitrij Paltsev was taking Aker Kvaerner to court over the overtaken shares and that Russian and Finnish police were investigating.

The raid comes after business daily Dagensnaeringsliv reported Aker Kvaerner would finance its own oil production in Russia and begin swapping field assets. It also reported Aker Kvaerner had plans afoot for its own liquefied natural gas plant.

Aker Exploration, a relatively new company, recently showed its “rigs-for-oil” prowess in Norway’s Awards in Predefined Areas licensing round.




   

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