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Aker Solutions

Norway

(formerly Aker Kvaerner Powergas)

Date: December 2004 – December 2006

Deal: Aker Kvaerner, according to a company press release, was chosen by Union Resources Ltd. to complete a feasibility study for the Mehdiabad Zinc Project in central Iran in December 2004. The $2.6 million study included the development of a zinc metal oxide plant and a zinc metal sulfide plant (Aker Kvaerner Website, December 8, 2004).

In December 2006, Union Resources' website noted that the firm's Iranian partners had terminated the project's agreements, stating that Union Resources had failed to complete its obligations under the arrangement (Union Resources Website, accessed June 16, 2010).

Date: April 2005 - Present

Deal: In April 2005, Aker Kvaerner announced in a press release that it had won a $25 million engineering and management contract for phases 9 and 10 of Iran's South Pars gas field. In the project, Aker Kvaerner is working with NIOC subsidiary, Pars Oil & Gas Company (POGC) and Hirbodan, a private Iranian engineering firm (Aker Kvaerner Press Release, April 27, 2005).

After the company was awarded the project, a company press release quoted Executive Vice-President Simen Lieungh, who said, "This is a good project for Aker Kvaerner. Our track record on executing large projects and the teaming up with a competitive Iranian partner were important winning factors for the contract" (Aker Kvaerner Press Release, April 27, 2005). The project is reportedly still ongoing.

U.S. Business Ties: Aker Solutions and its subsidiary companies maintain offices across the United States (Aker Solutions Website, accessed June 15, 2010).

According to USASpending.gov, Aker Solutions has received $6,306,018 in contracts from the U.S. government in the last 10 years, the majority of which came from the Department of Defense (USASpending.gov, accessed June 15, 2010).

Company spokesman Jannick Lindbaek stated to The New York Times that Aker does not currently have any business in Iran, but that the company is not barred from selling products to Iran, and that the company is following Norwegian law (The New York Times, March 12, 2010).