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Kvaerner:
Milestone contract signing for
first Sverdrup substructure
for delivery of the steel jacket substructure for the riser
platform at the Johan Sverdrup field.
2015, Jan. 20
+ + + Kvaerner has today signed the final contract for delivery of the steel
jacket substructure for the riser platform at the Johan Sverdrup field.
Since the letter of intent for the delivery was signed in June 2014,
Kvaerner has detailed out and confirmed a range of improvements to cost
levels and productivity which will be implemented in the project
execution. For Kvaerner, the contract signing marks a milestone for the
company's strategy to increase its competitive power.
At 26 June 2014,
Kvaerner signed a frame agreement for delivery of a non-specified number
of steel jacket substructures to future Statoil projects. A letter of
intent for one steel jacket for the riser platform and one for the
drilling platform at Johan Sverdrup was agreed simultaneously. Today's
contract value for the riser platform jacket is close to NOK 2 billion.
When we today move
from a letter of intent to a signed contract, is truly a milestone in
several respects. It documents that Kvaerner over the last six months has
confirmed the effect of cost reductions and our improved competitive
power. Johan Sverdrup is the largest industrial projects in Norway for
decades. Hence, it will provide a wide range of important contract
opportunities for the entire industry for many years ahead. This is an
important contribution to bridging a period when the sector experiences
reduced activity level for other projects, says Jan Arve Haugan,
Kvaerner's President & CEO.
The new contract
reinforces Kvaerner's position as the market leader for large steel jacket
substructures to the North Sea region. The riser platform is scheduled to
be delivered in the summer of 2017. The engineering for the new jacket has
started at Kvaerner's offices in Oslo. Kvaerner Verdal is the contract
party, and the project management will be based at the company's
specialised jacket-facility in Verdal in Mid-Norway. This is also where
fabrication will be performed, and where the assembly will take place from
the first quarter of 2016. At peak, 350 Kvaerner employees will work on
the project. It is expected that approximately 1 000 people in various
supply and service companies will also be involved.
Today's milestone
also illustrates that this industry is well used to significant shifts in
the market cycles, and that we are able to combine demand for immediate
changes with long term development of the industry. It has taken several
decades for Norway to build an industry which is internationally
competitive. The oil and gas sector has been the main engine for
delivering welfare to the society for generations. Provided that we
continue to see sound frame conditions from the authorities, this industry
will continue to be a key provider of both welfare and employment also to
the children of those who are young today, concludes Haugan.
Source: Kvaerner
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