Kvaerner has substantial ongoing business in the Caspian Sea region through the Kashagan hook-up project (HUC). The Caspian market (Kazakh sector) is expected to grow significantly over the next decades.
From the Kashagan field development in the Caspian Sea
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Kvaerner has a strong position in the northern Caspian region
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Kvaerner has a strong position in the northern Caspian region through its presence in Kazakhstan where, since 2004, it has played a significant role in developing the giant Kashagan field.
2004
Agip KCO and Kvaerner signed a contract for fabrication, outfitting and testing of facilities for oil production in the giant Kashagan oilfield in the north Caspian Sea, offshore Kazakhstan.
May 2009
Kvaerner in partnership with Saipem was awarded two significant contracts from Agip KCO for the hook-up work of the Phase I development of the Kashagan field in the Caspian Sea.
One of the contracts included the offshore hook-up, commissioning assistance, onshore pre-fabrication, all logistic support and inshore hook-up work. The other contract included engineering and job carding for prefabrication and installation and vessels preparation.
August 2010
Kvaerner and the Kazakh company KGNT Holding established a 50/50 joint venture. The new company is targeted for servicing the offshore oil and gas industry in the Kazakhstan sector of the Caspian Sea. It will offer a wide scope of services to offshore field development and maintenance and modification projects as well as fabrication services for onshore plants in Kazakhstan.
The joint venture will own, manage and operate a fabrication yard in Aktau, located next to the largest sea port of Kazakhstan. The parties have already secured the land area and made financial commitments to start the yard development in parallel with forthcoming scheduled offshore projects in Kazakhstan. Kvaerner builds on its worldwide resources and know-how within engineering and fabrication for the oil and gas industry when entering this new phase in its operations in Kazakhstan.