Kvaerner sets sights on more FPSOs, wind farms

Sept. 16, 2019

Offshore staff

LYSAKER, NorwayKvaerner plans to develop two new focus areas to grow its business in the oil and gas and renewables markets.

The company is aiming for revenue growth of around 40% to NOK10 billion ($1.114 billion).

Kvaerner expects demand to grow in Norway and elsewhere for small unmanned platforms with steel jackets, and for FPSOs. Currently the company is working on the FPSO for Equinor’s Johan Castberg field development in the Barents Sea. 

“We have efficient facilities for building platforms, with new automated production equipment and world-leading expertise,” a spokesman said.

“We believe that we are able to offer one of the world’s best production lines for advanced FPSOs, focusing on secure execution within agreed quality, time, and budget.”

Another target is wind power projects, again offshore Norway and internationally, especially in Europe and North America. To date the company has supplied more than 50 systems for offshore wind projects.

“It is important that suppliers can contribute with safe and efficient execution,” the spokesman said. “We bring valuable knowledge from the oil industry where the cost over time has been significantly reduced.”