Wednesday 14 February 2018

Kvaerner plans to invest NOK 370 million in a new quay at the company's facility at Stord.

The investment is subject to approval by Kvaerner's Board of Directors within a short period of time. The background for the investment is a changing oil and gas market. More projects are expected in deep waters, which mean an increased demand for floating installations.

The extension will increase the facility's quayside with 266 metres, and extend its construction area with 17 000 square metres. The water depth at the new quay will be 16 metres, which is sufficient for the majority of floating offshore installations. Additionally, the crane lane will be extended by approximately 100 metres, which means that installations at the new "Vestkaien" will have increased crane coverage from the 1 050 tonnes gantry crane "Storen".

The main project planning of the quayside extension is already underway, and the detail planning will start immediately after the Board of Directors' approval. Construction work will start in March, with planned completion during the first half of 2020.

The first project to utilise the quay is the floating production storage and offloading vessel (FPSO) destined for the Johan Castberg field development. Kvaerner is responsible for constructing the topsides for the FPSO. The hull and living quarter are being built in Singapore, but will be transported to Kvaerner's facility at Stord for integration and completion.