KVAERNER

Kvaerner is an international knowledge-based company. Kvaerner has decades of experience as an EPC contractor. Kvaerner is headquartered in Oslo, Norway, and has offices and fabrication facilities in several of the world’s main oil and gas regions. The Kvaerner brand is associated with some of the world’s most advanced technologies, providing our customers with maximum oil and gas production. At Kvaerner, their focus is on the fundamentals. Concern for health, safety, security and enviro... nment (HSSE) is essential for our activities. They see cost control and efficiency as key to successful project execution. At the same time, they know that quality and schedule have to be managed to achieve their ultimate goal: that every project is delivered predictably. Kvaerner delivers complete oil and gas offshore platforms and onshore process plants to operators and other customers. They specialise in executing engineering, procurement and construction (EPC) projects and are recognised as a world leader in delivering projects in challenging environments, with strict budget frames and within demanding schedules. Customers recognise Kvaerner as an expert in delivering cost-efficient project execution and effective oil and gas production facilities. Kvaerner has an organisation of 2 800 employees with expertise and experience covering all phases of a project’s life cycle. We also have the ability to call on a workforce of skilled personnel from strategic partners, subcontractors and suppliers, with whom we have well established relationships. Kvaerner has a long track record of enabling oil companies to realise some of the world’s most demanding and amazing projects. In doing so, they strive to add value to their customers and shareholders, as well as to the nations and local societies in which they operate. The companies brought together to create Kvaerner were established in the first half of the 19th century, during the Industrial Revolution. These companies delivered products such as steam engines for rail and marine use and a range of industrial ironworks. Over the next 100 years, the businesses grew significantly. In the mid1900s, both Kvaerner and Aker were international corporations with activities in shipbuilding, hydro power, wood processing and other process operations, mechanical workshops and other industries. Through the 1970s, 80s and 90s, they developed their capabilities and experience as suppliers of complete solutions to offshore and onshore oil and gas and processing projects. They each grew – organically and through international acquisitions – to be leaders in their markets. In March 2002, the former Kvaerner group and the Aker Maritime group (comprising the oil and gas activities of the wider Aker group) were merged, and started to operate as one company under the name Kvaerner. In 2004, following a restructuring of both Aker and Kvaerner, Aker Kvaerner was established and the parent company of this group – Aker Kvaerner – was listed on the Oslo Stock Exchange. Four years later, Aker Kvaerner changed its name to Aker Solutions. In December 2010, Aker Solutions announced a decision to cultivate its core businesses. Kvaerner was established, through a demerger, as a specialised EPC (engineering, procurement and construction) company addressing the global market. On 6 May 2011, the shareholders' annual general meeting approved the establishing of Kvaerner as a separate company.