Aker Solutions to Deliver Services to Kvaerner's Contract

(Press Release)
Friday, May 04, 2012

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 company Lundin.

Aker Solutions will deliver design engineering and procurement services from the company's offices in Oslo, Norway and Mumbai, India, with support from Kvaerner.

Fabrication and assembly of the 4 500 tonne process module will be conducted by Aker Solutions' yard in Egersund. Detail engineering will begin instantly, while fabrication is expected to commence in 2013.

When finalised, the sub-contracts to Kvaerner is expected to represent approximately NOK 1.5 billion in revenues for Aker Solutions.

"The combined strength of Kvaerner and Aker Solutions for a field development task like this on the Norwegian continental shelf is second to none. We will combine four decades of engineering, execution and fabrication experience to deliver this project," says Valborg Lundegaard, head of engineering in Aker Solutions.

Aker Solutions became involved in the Edvard Grieg field development more than one year ago, as a provider of front-end engineering design services to Lundin.

First production in 2015
The Edvard Grieg field is an oil field located in the North Sea. First production is expected in late 2015, with a forecast gross peak production of approximately 90,000 barrels of oil per day (bopd).

The oil will be processed and transported in a new pipeline to the Grane area and further via the Grane oil pipeline to the Sture terminal for sale. Lundin Norway AS is the operator and has a 50 per cent working interest in the Edvard Grieg field. Wintershall and RWE Dea hold a 30 per cent and a 20 per cent interest, respectively.


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