Kvaerner Stord secured a multi-billion contract with Statoil

Kvaerner CEO Jan Arve HauganKvaerner CEO Jan Arve Haugan.Photo: Terje Pedersen / NTB scanpix

Kvaerner has been awarded the upgrade of the Njord A platform. The agreement has a value of around NOK 5 billion and will include approximately 3,000 Full Time Employees.

– This is one of the most important contracts in the market this year. We are proud of the confidence Statoil has shown us by giving Kvaerner the contract to upgrade the Njord A new decades of production, says Kvaerner CEO Jan Arve Haugan in a stock exchange announcement.

The multi-billion contract will Friday be signed on Kvaerner’s facility on the Stord Island. It is a total contract for upgrading the Njord A platform, and includes a full upgrade of the hull and topsides. The Project will make Njord A capable of producing oil and gas for decades to come.

The platform was scheduled to be decommissioned after having been operational since 1997, but after it has been made new discoveries on the Njord field in the Norwegian Sea, Statoil has decided to continue to use the platform for the extraction of oil and gas. The upgraded platform will be ready in 2020.

– The work that is done is important so that the platform can resume safe and efficient operation of the field and be a centre for future connections between new fields, “says the director for development projects in Statoil, Torger Rød.

The mission will involve around 3,000 FTEs, mainly in Kvaerner and Aker Solutions. The so-called “creation of Norwegian value” in the project is estimated at over 95 percent.

– With the exception of some purchases, this is likely to be a virtually wholly Norwegian project, which provides a lot of activity in Hordaland as well as the rest of western Norway, which has been affected by the oil crisis in recent years, the CEO of Kvaerner says.


Source: NTB scanpix / Norway Today