Kværner Wins GBS Offshore Newfoundland Contract
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 (KVAER.OL)'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 1.5 billion and includes work conducted to date on the Hebron project.
The authorization to proceed with the full EPC contract follows the substantial completion of the Front End Engineering and Design (FEED) and site preparation contract awarded 9 November 2010 and the authorization of 25 April 2012 to proceed with detailed engineering, procurement and construction (EPC) related services throughout 2012.
The work will be performed in Newfoundland and Labrador, Canada, with engineering in St. John's and construction at the Bull Arm fabrication yard. The completed GBS will be installed at the Hebron field on the Grand Banks in the Atlantic Ocean located 350 kilometers offshore from St. John's, Newfoundland and Labrador, Canada. First oil is anticipated by the end of 2017.
"We are very pleased that Kiewit-Kvaerner Contractors has been selected to deliver the Hebron GBS. This is a strategically important project for us and we believe it confirms our strong position within arctic technologies in general and gravity based structures (GBS) in particular", says Bjørn Gundersen, executive vice president in Kvaerner, responsible for concrete solutions.