Kvaerner Nets North Sea Decom Deal

Kvaerner Stord facility

Kvaerner has secured a contract to decommission an unnamed North Sea platform.

Italian Saipem awarded the contract, worth approximately NOK 200 million, to an engineering, procurement and construction contractor, Kvaerner, to dismantle and recycle the platform.

As Kvaerner informed in its Q4 report, Saipem will transport the platform to Kvaerner’s Stord facility, where it will be later dismantled, recycled and disposed of all materials.

The deconstruction and disposal work on the platform, whose name was not disclosed, will start with the receipt of the first units in 2017 and continue throughout 2019.

Job Cuts

In addition to the contract, the company revealed plans to downsize the workforce by 40-50 employees, mainly in management positions.

The objective is to further reduce costs to continue strengthening competitiveness, the company noted.

As a consequence, the organisational structure will be adjusted effective from March 01, 2017.

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