Kvaerner Awarded Jacket FEED Study for Johan Sverdrup Phase 2

Kvaerner has signed a contract with Statoil for delivery of a FEED study on Johan Sverdrup Phase 2 for P2 Jacket. The work will be performed by Kvaerner's specialised design engineering group for steel substructures. The contract is a call-off from the framework agreement that was entered into by Statoil and Kvaerner in 2014, and it has a value of around NOK 6 million including options for additional studies to review alternative installation methods.

The FEED study objective is to develop and mature the concept for the Process Platform 2 steel substructure - P2 jacket in order to develop technical documentation to a level appropriate for start-up of detailed design or EPC contract, as well as establishing necessary interface to other parts of the Johan Sverdrup Phase 2, and establish the basis for a safe execution with minimal growth and changes during the project phase.

- This contract is very important for Kvaerner and for our position as a leading jacket design and project contractor, as well as a jacket EPC provider (Engineering, procurement, construction). The contract also represents a volume that ensures work until spring 2018 for a large part of our engineers within steel substructures. Additionally, the contract is strategically important for Kvaerner in a longer perspective. When entering the FEED, we are close to the development - and with that we secure a good position for future EPC contracts, says Executive Vice President responsible for jackets, Sturla Magnus.

The work starts immediately and will continue until delivery of final FEED study report 1 February 2018.