KvÃ¦rner ASA : Increase in Kvaerner's Nyhamna onshore contract
9 January - In April 2012 Kvaerner signed a framework agreement with A/S Norske
Shell for Engineering, Procurement, Construction and Management (EPCM) for
modifications and projects at the Ormen Lange/Nyhamna onshore facilities.Â Based
on theÂ now completedÂ front end engineering and design (FEED)Â workÂ for the
Nyhamna Expansion project, the estimated value of the framework agreement Â has
been adjusted to include an additionÂ of approximately NOK 5 billion, giving an
estimated total value of the contract of NOK 11 billion.
For further information, please contact:
Odd Naustdal, Communication Manager, Kvaerner, Tel: +47 53 41 81 03, Mob:
+47 905 76 079
Ingrid Aarsnes, SVP Investor Relations, Kvaerner, Tel: +47 67 59 50 46, Mob:
+47 950 38Â 364
Kvaerner is a specialised provider of engineering, procurement and construction
(EPC) services for offshore platforms and onshore plants. KvÃ¦rner ASA, through
its subsidiaries and affiliates ("Kvaerner"), is an international contractor
that plans and realises some of the world's most demanding projects as a
preferred partner for upstream and downstream oil and gas operators, industrial
companies and other engineering and fabrication contractors.
In 2011, the Kvaerner group had aggregated annual revenues of more than NOK 13
billion and the company had an order backlog at 30 September 2012 of more than
NOK 21 billion. Kvaerner was publicly listed with the ticker "KVAER" at the Oslo
Stock Exchange on 8 July 2011. For further information, please visit
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: KvÃ¦rner ASA via Thomson Reuters ONE