Kvaerner, KBR Partner for Johan Sverdrup Contracts

Kvaerner and KBR, Inc. will establish a joint venture to competitively bid on offshore platform topsides contracts for the Johan Sverdrup field development offshore Norway, the companies announced. The alliance combines Kvaerner's expertise and resources as a turn-key contractor for offshore platforms with KBR's competence as an international offshore oil and gas contractor.

"KBR sees Kvaerner (KVAER.OL) as one of this industry's most experienced EPC contractor, particularly for demanding projects in Norway, including the Johan Sverdrup field," said Stuart Bradie, KBR President and Chief Executive Officer. "By combining our capabilities in this new joint venture, we can offer world-class project execution and delivery." 

The Johan Sverdrup field is one of Norway's largest offshore oil and gas fields, and it is expected that the first development phase will include four offshore platforms for a new field center.

"KBR is one of the world's most recognized EPC contractors, with a successful project execution track record in Norway, and Kvaerner is excited about this partnership for the pursuit of this important market opportunity," said Jan Arve Haugan, President & CEO of Kvaerner. "The new joint venture can provide proposals to potential clients, not only based on an efficient delivery model and strong capabilities, but also with our shared focus on health, safety, security and environment.  It is my strong belief that by combining KBR's and Kvaerner's resources and strengths, including the long term experience from offshore oil and gas developments, the basis for a successful and cost efficient execution of platform topside projects for the Johan Sverdrup field will be secured."

kvaerner.com

kbr.com