Aker Kvaerner has recently been awarded contracts for the delivery of advanced mooring systems with a total contract value of $29.5m. The contracts comprise deliveries both to the offshore and marine industry. The work is undertaken by the Aker Kvaerner subsidiary Aker Kvaerner Pusnes in Arendal. The awards include delivery to the two advanced Aker Drilling H6e semi-submersible rigs to be built at Aker Kvaerner Stord and to five deepwater semi-submersible rigs to be built at Jurong's shipyard in Singapore. Manufacturing of the equipment will take place in Europe and Asia. The delivery dates are scheduled from 2007 to 2009.
Aker Kvaerner has been awarded contracts from Russian Admirality Shipyards to supply equipment for two shuttle tankers destined to operate in Arctic waters. The contracts include bow loading systems and complete mooring and emergency towing systems. The equipment is designed for the extreme low temperature conditions in the Arctic areas. The vessels are being built for the Russian Shipowner Sovcomflot to service the Prirazlomnaya field in the Pechora sea.
Norwegian oil services group Aker Kvaerner said it has been awarded a drilling equipment contract from Daewoo Shipbuilding & Marine Engineering Co in Korea for an ultradeep drillship. Aker Kvaerner said the total contract is worth about $130m. The group said it will deliver a drilling equipment package including installation and commissioning supervision. The drillship is scheduled for delivery in the third quarter of 2011.
Aker Kvaerner has signed a letter of intent with Statoil ASA to enter a five-year frame agreement for the delivery of subsea production systems and related operational services. The agreement will make Aker Kvaerner's subsea division a preferred supplier to deliver complete subsea solutions to Statoil's new field developments as well as additional equipment to new and existing fields. The frame agreement for aftermarket services is valid for new fields.
Aker Kvaerner has been awarded a five year contract by Cuu Long Joint Operating Company (CLJOC) for the supply and installation of surface wellheads and valve trees in the Vietnamese Cuu Long Basin. Aker Kvaerner's business area Subsea will supply the wellhead and control tree system as well as associated components. The equipment will be used to support the new Sutu Vang (Golden Lion) and Sutu Den (Black Lion) fields of the Cuu Long Basin.
Aker Kvaerner has awarded Kongsberg Maritime a Letter of Intent for integrated control systems for safety and process automation on board a semi-submersible production platform destined to be used on the Gjoa oil and gas field in the North Sea. Aker Kværner will be building the platform deck, attaching it to the hull and preparing the platform for operation. Gaz de France Norway will be operator of the field. Besides safety and automation systems
Aker Kvaerner has signed a frame agreement with Woodside Petroleum Ltd to become the Australian oil and gas giant's preferred supplier of steel tube umbilicals. The contract could be worth between NOK 150 - 200 million annually. The frame agreement is awarded for a three year period with optional periods of one + one year and has the potential to support Woodside Petroleum Ltd with its proposed LNG developments.
Kvaerner Contractors to provide engineering, procurement & construction (EPC) services for the Hebron Project gravity based structure (GBS). ExxonMobil Canada Properties has released the option for Kvaerner's joint venture company Kiewit-Kvaerner Contractors to provide the full scope of engineering, procurement and construction (EPC) services for the Hebron Project gravity based structure (GBS). The contract value for Kvaerner's share of the full EPC contract is approximately USD 1
The Union Carbide Chemicals & Plastics Technology Corporation (UCCPTC), a subsidiary of The Dow Chemical Company, has awarded Aker Kvaerner an engineering contract to assist in the development of process design packages and extended process design packages for two Ethylene Oxide/Ethylene Glycol (EO/EG) plants that will use the METEOR(TM) LEC EO/EG technology. The plants will be built in the People's Republic of China by subsidiaries of Sinopec under a license from UCCPTC
The Kvaerner Group has published its first quarter 2002 results. Kvaerner Masa-Yards' business operations contributed to the Group results with an operating profit of $16 million. Kvaerner Masa-Yards' operating revenues for the period were $2,431 million. At the end of March, the unrecognized sales value of the orderbook was 1.3 billion. The operating profit of Kvaerner Masa-Yards Inc. according to Finnish Accounting Standards (FAS) was slightly higher than the figure reported by the
Hyundai Heavy Industries (Hyundai) has awarded Kvaerner a sub-contract to provide services for inshore and offshore hook-up and commissioning assistance for the topsides for the Aasta Hansteen spar project. The inshore-work will be carried out at Stord and the offshore scope will be done at
Norway's Kværner ASA say that Technip Norge AS has awarded them a sub-contract for the Fjord Base and Support Services up-ending and preparation for mating operations of the sub-structure for the Aasta Hansteen Spar platform. With a total length of 198 meters
Norway's Kvaerner report higher operating revenues, higher earnings and higher EBITDA margin in the third quarter of 2013 compared to last year. Kvaerner reported operating revenues of NOK 3 383 million in the third quarter 2013, compared to NOK 2 430 million in the third quarter of
At the end of Q1 2013 the Norwegian company's backlog totalled a record-high NOK 31.6 billion, including incorporated joint ventures. Kvaerner, a specialised provider of engineering, procurement and construction (EPC) services for offshore platforms and onshore plants
Aker ASA entered a TRS (Total Return Swap) agreement with exposure to 1,500,000 shares in Aker Solutions ASA. The expiration date of the TRS agreement is November 1, 2013 and the settlement price in the agreement is NOK 83.717325 share.
ExxonMobil Canada Properties has released the option for Kvaerner's joint venture company Kiewit-Kvaerner Contractors to provide the full scope of engineering, procurement and construction (EPC) services for the Hebron Project gravity based structure (GBS)
Kværner reported operating revenues of NOK 2 930 million in the fourth quarter 2012. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to NOK 119 million, resulting in an EBITDA margin of 4.1 percent. The order backlog amounted to NOK 21 262 million.
Kværner ASA issue fourth quarter and preliminary annual financial results 2012. Kvaerner reported operating revenues of NOK 2 930 million in the fourth quarter 2012. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to NOK 119 million
ConocoPhillips confirms options in the Eldfisk 2/7 S topside contract for Kvaerner to perform offshore hook-up & commissioning assistance. In March 2011, Kvaerner was awarded a contract by ConocoPhillips to perform engineering, procurement and construction (EPC) of the topside for the
AMC Connector AS, a joint venture between Aker Solutions and Emas Offshore Limited, has agreed to sell subsea construction and cable-lay vessel Lewek Connector (previously called AMC Connector) to Ocean Yield AS. In October 2010, Aker Solutions announced that it would sell its offshore
Norway's Kværner ASA contracted to perform Edvard Grieg field (in the North Sea) offshore hook-up and commissioning assistance. Lundin Norway AS has confirmed an option in the Edvard Grieg topside contract for Kvaerner to perform the offshore hook-up and commissioning assistance
Engineering major Kværner will be a key player in the development of Rosneft and ExxonMobil’s grand projects in the Kara Sea. In the presence of President Vladimir Putin, the leaders of Rosneft and ExxonMobil announce the name of the company, which will be responsible for concepts
Konecranes contracted to supply a Goliath gantry crane to Kvaerner in Norway The Goliath gantry crane will be in operation at Kvaerner’s facilities at Stord on November 2013. The parties have agreed not to disclose the value of the order.
On May 3, 2012 Kvaerner ASA announced its intent to use Aker Solutions as a sub-contractor for its engineering, procurement and construction (EPC) contract for the topside for the Edvard Grieg platform (formerly Luno). The field is operated by the Swedish oil and gas exploration and production
Kværner ASA authorised for further work on Hebron Project in Newfoundland & Labrador Kiewit-Kvaerner Contractors, the 50/50 joint venture between Peter Kiewit Infrastructure and Kvaerner, has been authorised by ExxonMobil Canada Properties (EMCP) to proceed with work on the Hebron