Kvaerner awarded additional offshore work on Johan Sverdrup

10 August 2018 – Equinor has awarded additional offshore work on the Johan Sverdrup field to a joint operation with Kvaerner and Aker Solutions. For Kvaerner, the contract has an estimated value of approximately NOK 100 million.

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Kvaerner is one of the main suppliers to the development of the Johan Sverdrup field. Kvaerner has so far delivered three steel jackets, and is currently building the utility and living quarter platform and the phase two module for the riser platform. In addition, a joint operation with Kvaerner and Aker Solutions is already executing the offshore hook-up of the riser platform, which is the largest hook-up job of the field.

Equinor has now confirmed the options in the Johan Sverdrup riser platform hook-up contract for Kvaerner and Aker Solutions to perform the hook-up and commissioning assistance of the utility and living quarter platform, as well as offshore work connected with the phase two modifications of the riser platform.

“We are very pleased to have been awarded these options together with Aker Solutions, as a continuation of the hook-up work that we are performing on the Johan Sverdrup field. It reaffirms Kvaerner’s strong position when it comes to delivering offshore hook-up projects on schedule and as agreed with the client. This new award is an inspiration in our never-ending efforts to strengthen our competitiveness,” says Hans Petter Mølmen, Kvaerner’s Executive Vice President for the New Solutions business area.

The joint operation between Kvaerner and Aker Solutions is based on a 50/50 model, where Kvaerner will formally operate as a subcontractor to Aker Solutions. The joint team will work closely with Equinor also for the new scope, and assist in all parts of the project execution. The scope will primarily consist of planning, management and hook-up of the Johan Sverdrup utility and living quarter module, as well as the hook-up work in connection with the phase two modifications of the riser platform.

"We are delivering well on schedule on the offshore work that we are currently executing on Johan Sverdrup. We are looking forward to continue working with Aker Solutions in a common project team," says Mølmen.

Preparations will commence this fall. Offshore work for the utility and living quarter platform is scheduled to begin in the spring of 2019.

Once fully mobilized, a total of around 3-400 personnel are expected to be working in rotation on the project.

ENDS

For further information, please contact:

Media inquiries:
Odd Naustdal, kommunikasjonssjef, Kværner, Mob: +47 905 76 079, epost: odd.naustdal@kvaerner.com

Investor inquiries:
Torbjørn Andersen, Head of Communications, Kvaerner, Mob: +47 928 85 542, email: torbjorn.andersen@kvaerner.com

 

About Kvaerner:
Kvaerner is a leading provider of engineering, procurement and construction (EPC) services, and delivers offshore installations and onshore around the world. Kværner ASA, through its subsidiaries and affiliates (“Kvaerner”), is an international contractor and preferred partner for oil and gas operators and other engineering and fabrication contractors. Kvaerner and its approximately 2 600 HSSE-focused and experienced employees are recognised for delivering some of the world’s most amazing and demanding projects.

In 2017, Kvaerner’s Field Development segment had consolidated annual revenues of NOK 7.6 billion and the company reported an order backlog at 30 June 2018 of NOK 11.2 billion. Kvaerner is publicly listed with the ticker "KVAER" at the Oslo Stock Exchange. For further information, please visit www.kvaerner.com.

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