Kværner ASA: Edvard Grieg topside completed on time
(Thomson Reuters ONE) -
14 April 2015 - the 22 000 tonnes topside for the new offshore platform for the
Edvard Grieg field is ready for delivery, in line with the contract awarded
three years ago. Hence, the project is in an exceptional case with respect to
avoiding costly delays or quality challenges. Lundin Norway is the operator of
the field and ordered the topside as a complete EPC delivery from Kvaerner in
2012. In addition to delivering the topside as agreed, the project also had a
high share of work performed in Norway. The Norwegian value creation from both
Kvaerner and subcontractors totals around 70 percent of the delivery.
The next phase for the topside is preparations for tow-out and thereafter hook-
up of all systems before production starts offshore. The construction phase now
being completed started 3 May 2012 when Lundin Norway signed a letter of intent
of around NOK 8 billion with Kvaerner for the complete EPC delivery of the
Edvard Grieg platform topside. In addition, Kvaerner was awarded the contract to
assist Lundin in preparing the platform for production when both the steel
substructure, as well as all parts of the topside has been installed at the
field.
Kvaerner has under a separate EPC contract also delivered the steel jacket
substructure for the Edvard Grieg platform. The 14 500 tonnes structure was
delivered as agreed in the spring of 2014 from Kvaerner's specialised facilities
for steel jackets in Verdal, Norway.
For the construction of the Edvard Grieg topside, Lundin selected an execution
model which leveraged the Norwegian supplier industry's core competence of
delivering complex platforms according to schedule, specifications and
contracts, despite high complexity. Kvaerner has as the main contractor utilised
Norwegian companies like Aker Solutions and Apply Leirvik as important
subcontractors for engineering; and construction of the process module and
living quarter respectively. Partners in Norway and Europe have in addition
delivered pre-fabrication of steel sections and equipment packages.
The project has contributed to considerable ripple effects for the Norwegian
supplier industry as well as for the suppliers' local communities. More than
150 large and small businesses have been involved. At peak, the project employed
approximately 7 500 people directly and indirectly. The contract party, Kværner
Stord AS delivers revenues of several billion NOK annually, and around 85
percent of the business' revenues are contracted with Norwegian registered
companies during an average year.
- This has been a demanding project but we have kept the milestones all the way,
and we are proud of completing Edvard Grieg at the exact time agreed with Lundin
Norway three years ago. The topside is not only delivered on time but also to
agreed quality and exceptionally little outstanding work. This is another
demonstration of Kvaerner's and the Norwegian supplier industry's ability to
execute large, complex projects without expensive quality errors and delays,
says Jan Arve Haugan, President & CEO of Kvaerner.
The topside consists of a main deck module, a combined utility module and
living quarters, a process module and a flare tower. The main deck module and
the combined utility module and living quarters have both been moved to barges
at Stord, ready for tow-out to the field. The process module is also ready on a
barge at Aker Solutions in Egersund, Norway, and the flare tower is completed
and ready for delivery directly offshore from the subcontractor in Poland.
The modules for the topside will be towed to field and lifted in place on top of
the steel jacket in three separate lifts. Kvaerner will assist Lundin with
offshore hook up and completion during the summer and into the fall. The
production is expected to reach a peak of 100 000 barrels a day. The oil will be
processed and transported through a new pipeline to the Grane field and further
via Grane's piping to the Sture terminal.
Lundin Norway AS is operator and owns 50 percent of the license. The other
partners are Wintershall Norway with 15 percent, OMV Norway with 20 percent and
Statoil with 15 percent.
For more information, please contact:
Media:
Torbjørn Andersen, VP Communications, Kvaerner, Mob: +47 928 85 542
Investor Relations: Ingrid Aarsnes, SVP Investor Relations & Communications,
Kvaerner,
Tel: +47 67 59 50 46, Mob: +47 950 38 364
About Kvaerner:
Kvaerner is a leading provider of engineering, procurement and construction
(EPC) services, and delivers offshore installations and onshore plants for
upstream oil and gas production 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 3 000 HSSE-focused and
experienced employees are recognized for delivering some of the world's most
amazing and demanding projects.
In 2014, the Kvaerner group had consolidated annual revenues of close to NOK 14
billion and the company reported an order backlog at 31 December of NOK 16.5
billion. Kvaerner is publicly listed with the ticker "KVAER" at the Oslo Stock
Exchange. For further information, please visit www.kvaerner.com.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Kværner ASA via GlobeNewswire
[HUG#1910894]
Unternehmensinformation / Kurzprofil:
Datum: 14.04.2015 - 12:30 Uhr
Sprache: Deutsch
News-ID 385597
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