Kværner ASA: Framework agreement with Aker BP for offshore platform projects
(Thomson Reuters ONE) -
7 April 2017 - Kvaerner is one of several contractors selected by Aker BP for
long term framework agreements. The agreement covers construction and hook-up of
fixed offshore platforms, including topsides and steel jacket substructures. The
first project is expected to be the Valhall West Flank normally unmanned
installation.
In the oil and gas industry, Aker BP has taken a leading role in driving step
change reduction to costs and project execution time, while simultaneously
enhancing HSSE. The operator's ambition is thus to increase the productivity,
quality, flow- and time efficiency throughout the value chain, and thereby
increase the value creation and competitiveness of the company. A strategic core
element in this effort to improve is to enter into long-term, interdependent
collaboration with strategically important suppliers.
The intent of the entered framework agreements is that Aker BP in the company's
field development- and modification projects develops and executes work by using
a more integrated project delivery model; a "Platform Alliance" for each
project. Under AKR BP's management, Kvaerner and the other alliance members will
work integrated, with a "One for All - All for One" mind-set.
With the frame agreement, Kvaerner's role in the alliance will include
fabrication of jackets and topsides for fixed platform installations. In the
agreement, hook-up and commissioning assistance is also defined as key Kvaerner
roles in upcoming projects. The value of the agreement will depend on which
future projects Aker BP decides to call off deliveries from Kvaerner for.
"For Kvaerner, to become a strategic alliance partner with Aker BP opens up
significant business opportunities. Our role in the alliance means that we can
leverage the expertise and capabilities from Kvaerner's entire organisations at
Stord, in Verdal and at Fornebu. The agreement is also an important driver for
further development of new solutions, such as Kvaerner's Subsea on a Stick®
concept for small, cost effective unmanned platforms," says Jan Arve Haugan,
President & CEO of Kvaerner.
The framework agreement is for six years, with an option for four additional
years.
ENDS
For further information, please contact:
Media inquiries:
Tove Strand Trana, Head of Communications Mid-Norway, Kvaerner, Mob:
+47 464 01 103
Torbjørn Andersen, Head of Communications East Norway, Kvaerner, Mob:
+47 928 85 542
Investor inquiries:
Ingrid Aarsnes, VP Investor Relations & Communications, Kvaerner, 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. Kvaerner 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 2 700 HSSE-focused and
experienced employees are recognised for delivering some of the world's most
amazing and demanding projects.
In 2016, the Kvaerner group had consolidated annual revenues of close to NOK 8
billion and the company reported an order backlog at 31 December 2016 of NOK
6.5 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 Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kværner ASA via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 07.04.2017 - 11:32 Uhr
Sprache: Deutsch
News-ID 535146
Anzahl Zeichen: 4239
contact information:
Town:
Oslo
Kategorie:
Business News
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