2nd quarter and half year results 2018 - On track with operations and results

    Kvaerner's second quarter and half year results are on track to the targets for the full year. Net cash at 30 June increased to more than NOK 3 billion, above levels over the last year. The total EBITDA result for the Field Development segment was NOK 118 million in the second quarter, and was NOK 230 million in the same quarter last year. The order intake was NOK 1 941 million in the last quarter, more than five times higher than in the second quarter 2017 with NOK 370 million.

    Kvaerner and Aker Solutions letter of intent for Johan Sverdrup phase 2

    Kvaerner has in a 50/50 joint venture with Aker Solutions been awarded a letter of intent with Statoil for modifications of the riser platform and the field center for the Johan Sverdrup development. At peak, the work will involve about 2 000 employees in the two companies as well as subcontractor personnel. The total value of the agreement is around NOK 3.4 billion.

    Kvaerner contracts for the Johan Castberg FPSO

    Kvaerner has signed a contract with Statoil for delivery of the topside modules for the Johan Castberg floating production vessel (FPSO), as well as for hook-up and integration of the topside modules with the hull. Kvaerner's scope for the FPSO will at peak involve around 2 000 Kvaerner employees and subcontractor personnel. The contract value is approximately NOK 3.8 billion.