Kvaerner awarded large platform recycling job

30 June 2020

Kvaerner has been awarded by Allseas a contract to dismantle and recycle three large topsides, three jackets and four bridges from the Valhall and Hod fields, with a combined weight of 33 000 tonnes, as well as options for another 5 000 tonnes. The assignment will at peak provide work for around 100 persons.

The Aker BP operated Valhall and Hod fields have since production started in 1982 produced more than one billion barrels of oil equivalents. After the new production and accommodation platform came in 2013, some of the oil installations will be removed.

Kvaerner has already started the decommissioning of the old Valhall accommodation platform, but has now been awarded additional removal work on the field. Aker BP has given Allseas, with Kvaerner as subcontractor, the assignment to remove and decommission the drilling platform and the production platform from the Valhall field, in addition to the unmanned Hod platform that is connected to Valhall. The project also includes three jackets and four bridges.

The structures will be removed from field by Allseas, and delivered to Kvaerner’s decommissioning facilities at Stord where they will be dismantled and recycled.

The first structures are expected to arrive Stord in 2022. The drilling platform, the process platform and one jacket from the Valhall field will be delivered first, while Hod and the remaining structures are planned to arrive in 2025. The method work will begin later this year, while detail offshore mapping and engineering work will commence in 2021.

At peak, the project is expected to provide work for around 100 persons in Kvaerner.

Kvaerner’s decommissioning facilities at Stord is specialised on receiving, dismantling and recycling of oil and gas installations in a safe and an environmentally sustainable way. Normally, around 98 percent of the structures are recycled.

“Decommissioning and recycling is a market in growth and a priority for Kvaerner. Kvaerner has won several decommissioning projects. We have made significant investments in facilities, methods and equipment to minimise high risk manual labour. In this project we will also utilise a newly developed automatic cutting machine for pipes and beams, which will reduce the need for manual work significantly and thus reduce risk. Combined, these measures enable us to handle these types of projects in a safe manner”, says Magnus Kise, SVP decommissioning projects in Kvaerner.

For more information, please contact:

Media,
Odd Naustdal, Head of Communication, Kvaerner, mobile: +47 905 76 079, e-mail: odd.naustdal@kvaerner.com

Investors:
Torbjørn Andersen, VP IR Communication, Kvaerner, mobile: +47 928 85 542, e-mail: torbjorn.andersen@kvaerner.com

About Kvaerner:
Kvaerner is a project execution specialist and a trusted advisor for our customers. We provide engineering, procurement and construction (EPC) services and deliver advanced offshore and onshore installations around the world.

We have offices in seven countries and approximately 2 800 employees. Health, Safety, Security and Environment (HSSE) has the highest priority in our work, and we aim to deliver technology and solutions in a safe and sustainable way. Our passion, experience and expertise realise values for customers and societies. Kværner ASA, through its subsidiaries and affiliates (“Kvaerner”), is an international contractor and preferred partner for operators and contractors within oil and gas, renewable energy and in the field of engineering and fabrication.

In 2019, Kvaerner’s Field Development segment had consolidated annual revenues of NOK 9.4 billion and the company reported an order backlog at 31 March 2020 of NOK 7.2 billion. Kvaerner is publicly listed with the ticker “KVAER” at the Oslo Stock Exchange. For further information, please visit www.kvaerner.com (http://www.kvaerner.com).

To subscribe or unsubscribe to our press releases, please see our web page: https://www.kvaerner.com/investors/news-and-stock-exchange-announcements/subscribe-to-releases/