Analyst Research

Report Title Price
Provider: Wright Reports
$75.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Kvaerner ASA's Joint Venture Company Wins EPC Contract for Hebron GBS Project


Tuesday, 12 Mar 2013 03:00am EDT 

Kvaerner ASA announced that ExxonMobil Canada Properties has released the option for Kvaerner's joint venture company Kiewit-Kvaerner Contractors to provide the full scope of engineering, procurement and construction (EPC) services for the Hebron Project gravity based structure (GBS). The contract value for Kvaerner's share of the full EPC contract is approximately USD 1.5 billion and includes work conducted to date on the Hebron project. The authorization to proceed with the full EPC contract follows the substantial completion of the Front End Engineering and Design (FEED) and site preparation contract awarded November 9, 2010 and the authorization of April 25, 2012 to proceed with detailed engineering, procurement and construction (EPC) related services throughout 2012. The work will be performed in Newfoundland and Labrador, Canada, with engineering in St. John's and construction at the Bull Arm fabrication yard. The completed GBS will be installed at the Hebron field on the Grand Banks in the Atlantic Ocean located 350 kilometers offshore from St. John's, Newfoundland and Labrador, Canada. First oil is anticipated by the end of 2017. GBS contract parties are ExxonMobil Canada Properties and Kiewit-Kvaerner Contractors. 

Company Quote

10.65
-0.15 -1.39%
19 Sep 2014