Kvaerner News

Kvaerner ASA awarded Scana Offshore AS a contract for the supply of mooring equipment to Hywind Tampen, Equinor's new floating wind farm. The contract is Scana Offshore's first hardware contract in the floating wind power market.The delivery from Scana Offshore will consist of 33 hull brackets, which are used to attach anchoring lines to the hulls on the 11 offshore wind turbines that make up the Hywind Tampen wind farm. The company will also provide ROV tools for possible replacement of the anchor lines.“We have a long track record of deliveries to the oil, gas and aquaculture market.

Norwegian renewable energy firm Nel ASA has entered into a strategic agreement with the compatriot  engineering and construction services company Kværner to collaborate on green hydrogen projects and the standardization of solutions for large scale hydrogen production plants.In the agreement, the companies have identified a range of projects on which to collaborate on moving forward. Work has already been initiated in order to jointly develop a standardized 20 megawatt H2 production module, and will proceed to include standardized design for large (100 megawatt+) modules to cater for anticipated demand for major scale plants.“We’re happy to enter into this collaboration agreement with Kvaerner, who have extensive experience from large projects all over the world.

A group of six leading Nordic industry companies has, in line with the UN sustainability goals, joined forces to solve a great societal challenge. The initiative is called Zero Emission Energy Distribution at Sea (ZEEDS).Annually, shipping is responsible for nearly one billion tonnes of CO2 gas emissions globally, and the consortium is trying to address this by developing a new infrastructure for green fuels for ships.The collaboration is spearheaded by Wärtsilä, a leader in smart technologies for the marine and energy markets. It further consists of Aker Solutions, a global engineering company,Equinor, a multinational energy company…

Norwegian minister of petroleum and energy Kjell-Børge Freiberg cut the first sheet for the topside of the Johan Castberg floating production, storage and offloading unit (FPSO) at Kværner's yard at Stord on Wednesday as part of a large scale  project triggering ripple effects throughout Norway.The topside will be installed on the 200-meter long FPSO vessel that will be producing on the Johan-Castberg field for 30 years from the planned production start in 2022.The field development concept includes a FPSO vessel and extensive subsea development…

Kvaerner, a Norwegian builder of oil platforms, aims to increase its revenue by some 40 percent by 2022 by expanding abroad, the company said on Tuesday after reporting a sharp decline in third-quarter earnings that drove down its shares.Kvaerner's quarterly earnings before interest, tax, depreciation and amortization (EBITDA) fell to 76 million crowns ($9.19 million) from 245 million crowns a year ago."In a period where some recently awarded projects are not yet recognising margin and with less effects from milestones and incentives in other projects, this influences EBITDA and margins, as ex

Aker Solutions has, in collaboration with Kvaerner, secured additional hook-up and commissioning work for Equinor's Johan Sverdrup field offshore Norway.Equinor has exercised an option in the Johan Sverdrup Riser platform hook-up contract  awarded in January 2017 for Aker Solutions to perform hook-up and commissioning assistance of the field's utility and living quarter platform, as well as the preparatory offshore work connected with the phase two modifications of the riser platform."We are delivering well and on schedule on the hook-up work that we are currently performing on the Johan Sverdrup field," said Knut Sandvik, EVP Projects at Aker Solutions.

Damen Verolme Rotterdam (DVR) won a contract by Stena Drilling for a refit of its drilling rig Stena Don. The vessel is scheduled to arrive at the yard in October 2018 and is expected to remain there for around three months. The most significant aspect of the works will be the installation of an eight-point mooring system prior to the rig being deployed off the UK’s Shetland Islands.In advance of the vessel's arrival, preparations are already underway at the yardto ensure that the installation of the mooring system can begin as soon as the Stena Don arrives at the yard.

Statoil, on behalf of the Njord license, awarded a NOK 1.3 billion ($168 million) contract to Aibel to upgrade the Njord Bravo floating storage and offloading (FSO) vessel in the Norwegian Sea.The FSO will be prepared for extended operation of the Njord and Hyme fields, as well as tie-in of two new field developments in the Norwegian Sea, Bauge and Fenja.The job involves extensive vessel upgrades and maintenance, in addition to the installation of equipment on board for reducing emissions to air (VOC facility).Njord Bravo is scheduled to be completed at the turn of the year 2019/2020.“After several good deliveries, Aibel has proven that the company has both the expertise and ability to handle this type of complex projects…

Fifteen production floaters were contracted in 2017 – 11 FPSOs, two production semis, a wellhead TLP and an FLNG – and the number of deep water projects in the near-term planning queue indicates production floater orders are set to accelerate. This is a big change from 2016 when orders for new units totally dried up and the deepwater future looked pretty bleak. Here’s a round-up of contracts awarded last year and in January 2018. Tempera FPSO - Keppel in January 2017 received a contract from Dixstone Holdings…

Karl-Petter Løken has been appointed President and Chief Executive Officer (CEO) for the international contracting company Kvaerner. Løken succeeds Jan Arve Haugan, who left Kvaerner for a position at Aker Energy. Kvaerner's EVP & CFO Idar Eikrem will continue as interim CEO until Løken steps into the role this spring after ending his current position as head of Project Development for Lundin Norway. Since 1991, Løken has held positions in the oil and gas industry for companies like Statoil, Aker Solutions and Lundin Norway.

Jan Arve Haugan resigns as President & CEO of Kvaerner, and from March 1, 2018, he will start his new role as CEO of the newly established oil company Aker Energy. Idar Eikrem, Executive Vice President and Chief Financial Officer in Kvaerner, is appointed interim CEO. Haugan has been President & Chief Executive Officer with Kvaerner since its demerger from Aker Solutions and stock listing in the summer of 2011. "Under Jan Arve Haugan's management, Kvaerner has developed into a leading, renowned oil service company with EPC services as our specialty. Competitiveness, project execution and, ultimately, the results, have continued to improve.

Kvaerner said it plans to invest NOK 370 million ($46.8 million) in a new quay at the company's facility at Stord. "The objective for this upgrade will be to make the facility more flexible. We invest now to strengthen our competitiveness, and this extension will position Kvaerner for deliveries of new solutions to both oil and gas projects and other market segments," said Kvaerner president & CEO, Jan Arve Haugan. The investment is subject to approval by Kvaerner's Board of Directors within a short period of time.

Kvaerner has entered into an agreement with Allseas for the recycling of the topside and bridge of the 36-year-old Valhall QP platform when Allseas removes this installation for operator Aker BP in 2019. The structures will be deconstructed during winter 2019 and spring 2020. Kvaerner has also signed a contract with Saipem Uk for disposal of the Varg A installation. Saipem will remove the installation from the field on behalf of Repsol. Varg A was originally  delivered by Kvaerner’s yard in Verdal, Norway in 1997. The topsides, mono-tower, piles and various ancillaries will be delivered to Kvaerner’s disposal site at Stord during the summer of 2018 for deconstruction and recycling.

Russian state-owned United Shipbuilding Corporation (USC) is looking for a new owner for its Arctech Helsinki shipyard as sanctions against the holding company hamper business, the head of the shipyard said on Tuesday. The shipyard is the world’s biggest builder of vessels that can navigate ice-covered waters, and it has expected more orders as melting sea ice opens the Arctic to more shipping, mining and oil drilling. However, following the Ukraine crisis and back-to-back East-West sanctions, Russian ownership has complicated the shipyard’s access to finance.

Sami Uotinen will join naval architecture firm Robert Allan Ltd. on October 1, responsible for European Business Development initiatives, operating from Turku, Finland.   Uotinen, a graduate naval architect, joins Robert Allan Ltd. from Rolls Royce, where he has worked since 2000, most recently as North American Sales Manager for Z-Drive propulsion. He has also held positions at Aquamaster, Kamewa and Kvaerner Masa Yards.

Norsafe reported that it has secured more than 200 million NOK ($23.6 million) in LSA contracts that have been put out to tender so far this year. In addition to the recently announced contract with Kværner for delivery of three of Norsafe’s largest freefall lifeboats with davit systems to the Njord A platform, Norsafe has won several other significant contracts, both for new builds and upgrade projects. The company has also launched new products including its first rigid inflatable boat…

Kvaerner, the Norwegian builder of oil platforms, lifted its 2017 outlook on Monday as a slump in the oil sector eased with a year-on-year lift in crude prices. Kvaerner's clients, oil companies, have reported forecast-beating earnings so far in this quarter, helped by a 55-percent jump in oil prices from a year ago, including Norwegian major Statoil last week. "Since the oil price started a decline in 2014, the market for both new investment projects and for operation of existing facilities has been turbulent. Kvaerner sees signals that the decline may now start to level out," it said in a statement. The company now expects gross revenues this year of seven billion crowns ($815.30 million) up from the six billion crowns it was expecting for this year in February.

Norsafe has received orders from Kværner relating to the delivery of new lifeboat systems to Statoil’s Njord A platform. Norsafe will supply three lifeboat systems of its largest freefall lifeboat, the GES 52, with compatible davits. The lifeboat systems are built according to SOLAS and DNV-OS-E406, and although the products were developed just a few years ago, they have already been delivered to many installations worldwide. The contract is worth over 35 million Norwegian kroner and will be delivered in 2018 and 2019.

Aker Solutions will provide design engineering for the upgrading of the semi-submersible Njord A platform in Norway. The company will as a subcontractor of Kvaerner take part in upgrading the platform after operator Statoil exercised an option in an agreement awarded in April 2016. The option is for work in the engineering, procurement and construction phase of the project. Aker Solutions' share of the work is valued at about NOK 1 billion and will be booked in the company's first-quarter orders.

Aker Solutions won a contract from Statoil for the hook-up of the riser platform for the Johan Sverdrup field, Norway's largest offshore development in the past three decades. The company will work closely with subcontractor Kvaerner on joining together the platform's seven modules, which will be transported to Norway in the second quarter of 2018. The scope also covers planning, management and prefabrication. The contract value is approximately NOK 900 million and will be split about equally between Aker Solutions and Kvaerner. Aker Solutions' share will be booked in its first-quarter orders. "We're very pleased to continue supporting Statoil in driving forward this giant development…

Global Maritime Consultancy & Engineering, a provider of marine warranty, dynamic positioning and engineering services to the offshore sector, has successfully led the disconnection and towing operations of the Njord A semi-submersible floating production platform from the Njord field. The Njord A platform arrived safely in Klosterfjorden on the August 23, where a handover to Kværner was achieved. The 346 nautical-mile journey was carried out by Global Maritime, on behalf of the operator Statoil.

Norwegian industrial holding company Aker expects to conduct more acquisitions and other transactions in coming years, the firm's top owner said on Friday. "At Aker, and companies owned by Aker, the transaction activity will probably increase," billionaire investor Kjell Inge Roekke, who holds 67 percent of the company's shares, wrote in an annual letter to his fellow shareholders. Over the past year, Aker's investment team has been presented with an unusually high number of projects and companies seeking investors, and is prepared to take part in transactions and restructurings, he added. Roekke has an estimated net wealth of 11.1 billion crowns ($1.36 billion) according to financial periodical Kapital, which in 2015 ranked him Norway's ninth-richest person.

Today, Kvaerner and its sub-contractors cut the first steel plates for the utility- and living quarters (ULQ) topside for the Johan Sverdrup field. The topside construction starts on schedule and budget. The Johan Sverdrup development is being executed with a high degree of Norwegian value creation. Kvaerner's efforts to improve competitiveness have resulted in a large portion of the work for the ULQ platform to be executed in Norway. This gives Kvaerner and Norwegian subcontractors a steady activity and also a continued high number of apprentices. In June 2015, Kvaerner in a joint venture with KBR won the contract for the complete delivery of the utility and living quarter (ULQ) topside.