Kvaerner is an experienced EPC contractor that has successfully completed many demanding projects around the world. The document discusses a specific project where Kvaerner provided EPC services for the Gjøa semisubmersible platform in the North Sea, delivering it on schedule. Key details include the topside weight of 22,000 tonnes, gas export capacity of 17M Sm3/day, and oil export capacity of 87,000 barrels/day. Kvaerner's scope involved engineering, procurement, construction, and mating of the topside and hull. The project value was approximately NOK 8 billion and involved a peak workforce of 3,000 people.

2. 32
We create value by successfully
planning and executing demanding
EPC* projects
In Q4 2010, the Gjøa semisubmersible platform reached production start-up
on schedule in the North Sea. Kvaerner provided the topside and assembly.
Gas export
capacity:
17M Sm3
/day
Topside weight:
22 000
tonnes
Width:
110m
Height:
143m
* Engineering, procurement and construction
Oil export capacity:
87 000 barrels/day
ÒÒ Our scope: EPCH (Detail
design of topside and hull,
procurement, construction
and hook-up of topside, and
mating of topside and hull)
ÒÒ Contract value:
Approximately NOK 8 bn
(2006)
ÒÒ Peak manning: 3 000
people at our in-house
yard at Stord, Norway
ÒÒ Electricity to Gjøa is
provided from land, for the
first time on the Norwegian
Continental Shelf, saving
annual CO2
emissions
equivalent to those
produced by 100 000 cars
ÒÒ Tie-in of remote field (Vega)
ÒÒ Field development operator:
Statoil
ÒÒ Field operations operator:
Gaz de France
gjøa

3. 4 5
Who we are
Foundation for growth Focus on HSE performanceCommon valuesKvaerner: EPC specialists
Kvaerner is a specialised engineering, procurement and
construction (EPC) company focused on executing some
of the world’s most demanding projects as the preferred
partner for upstream and downstream oil and gas
operators, industrial companies and other engineering
and fabrication providers.
A unique heritage
The Kvaerner and Aker groups have decades of
experience as EPC contractors for onshore and offshore
facilities covering a wide range of technologies and
solutions. The new Kvaerner further leverages the
experience and expertise built up through the execution
of demanding projects over the past 40 years.
Tailored to meet client demands
Kvaerner is tailored to meet the EPC market trends and
client demands. We offer a safety focused and dedicated
management and we have the mandate to enter into
In Kvaerner, concern for health, safety and the
environment is a core value. This HSE Mindset,
symbolised by Just Care™, is founded on the belief
that all incidents can be prevented. We work
systematically to ensure continual improvement
of our HSE culture and performance.
ÒÒ We strive continuously for zero harm to personnel,
material and non-material assets.
ÒÒ We focus on employee health and on continuously
improving the work environment.
ÒÒ We require every employee to take personal
responsibility for HSE by focusing on their
own behaviour.
Our history:
Building strength
through experience
partnerships in order to establish reliable,
flexible and competitive delivery models.
Building trust through common values
In any organisation, values are essential for building
trust – in each other, with our partners, with our
customers and with society. All the Kvaerner businesses
share a common set of values – the compass that
guides our policies, our operations and ultimately,
our behaviour.
Long-term ownership
Kvaerner is headquartered in Oslo, Norway, and has
more than 3 000 employees worldwide, in addition
to a significant number of contract staff. Aker ASA,
an investment company that exercises active
ownership, is indirectly a significant shareholder
in Kvaerner.
Entered the offshore oil
and gas industry. Shipyard
modifications to cater
for the coming
offshore business.
Strong player in
machinery, equipment,
hydropower turbines,
shipbuilding and other
industries.
Kvaerner founded in
Oslo, Norway.
Aker founded in
Oslo, Norway.
1841 1853 EARLY 1900s 1980s1970s1960s 1990s 2000s 2010
Yards in Stord and Verdal
founded. Developed and
delivered pioneering
concepts like the
Aker H-3 drilling rigs
and the Condeep
platforms.
Key partner in North
Sea field developments
such as Gullfaks,
Oseberg, Ekofisk.
Key partner in
world-class projects
in the North Sea
and international
markets.
Merger of Aker and Kvaerner. Key partner in some of
the world’s most demanding field developments. Leading
field development provider in Norway, both offshore
and onshore. Global leader in deepwater developments
and concrete GBS. Europe’s leading provider of big
steel jackets. Strong position in North America within
downstream oil & gas, energy & environmental
and industrial construction.
2011: Kvaerner established
as a specialised EPC company
in a demerger from Aker
Solutions. Listing on the
Oslo Stock Exchange.
Clear growth ambition.
Just Care™
ÒÒ Kvaerner is a leading EPC company
with a solid track record
ÒÒ Operating revenues of more than
NOK 13 billion (2010)
ÒÒ Long-term active ownership by Aker ASA
ÒÒ Well positioned for long-term growth
trends in key markets
ÒÒ Ambition to maintain strong North Sea
position and further grow international
EPC deliveries

4. 6 7
Engineering
Our multi-discipline organisation covers all
of the technical and administrative functions
needed to execute demanding engineering
tasks for upstream and downstream oil
and gas operators, industrial companies
and other engineering and fabrication
providers. We tailor the delivery model
to match our customers’ needs and
business priorities.
Procurement
Kvaerner provides best value to our clients
by proactively utilising global networks, market
opportunities, market knowledge and global
sourcing. Our supply management and
procurement organisations support the
businesses through a systematic proactive
process of optimising the total costs,
risk, quality, lead-time and HSE of all
outsourced products and services.
Construction
We combine the expertise built up over
40 years at our specialised in-house yards
in Norway with cost effective fabrication from
our high quality partner yards. Using local
partnerships and local value creation, we can
contribute to significantly increasing the
local content of a project. All our projects
are overseen by Kvaerner project and
construction management expertise.
We are an experienced main contractor for onshore and offshore facilities covering a wide range of
technologies and solutions. We understand that good customer references build our reputation – and the
only way to achieve this is through consistent and predictable performance. Our proprietary project execution
model is based on best practice from many of the industry’s most challenging projects. This ensures safe
and efficient project execution and risk management.
We plan &
execute
demanding
EPCprojects
Proven EPC project management
Offshore topside facilities Floating oil &
gas facilities
Concrete GBS for offshore
platforms
Steel jackets for offshore
platforms
Onshore oil and gas and
petrochemical facilities
Construction and
maintenance services
Topsides Floaters Concrete jackets Onshore CONSTRUCTION

5. In 2007, the LUN-A and PA-B concrete gravity base structures delivered by Kvaerner were
successfully installed offshore Russia on the far east coast as part of the Sakhalin-II project.
Designed and constructed for
arctic environments
with heavy ice loads
Designed and
constructed
to withstand
seismic
activity
Two platform
substructures
developed with a total
high-performance
concrete weight of
61 700 tonnes
8 9
ÒÒ Our scope: Engineering, procurement,
management and project services for
two platform substructures
ÒÒ Customer: Sakhalin Energy
ÒÒ Integrated project team over nine time zones
ÒÒ Fast track execution: 30 months from FEED
to offshore installation of two concrete GBSs
ÒÒ HSE training carried out for 11 500 people
ÒÒ Site build-up in remote location: Excavation
and transportation of more than 2 000 000 m3
of soil. Road construction in winter conditions
ÒÒ Strong local content performance:
More than 90 % Russian labour and materials
utilised, with more than 600 Russian vendors
who acquired unique experience in marine oil
and gas construction
SAKHALIN-II: LUNSKOYE GBS & PILTUN-ASTOKHSKOYE-B GBS
Our customers have selected Kvaerner
to play a key role in some of the
world’s most demanding projects

6. 10 11
Delivering to our customers
Kvaerner is a leading provider of project management, design, engineering, procurement, construction, installation
and commissioning for demanding projects worldwide.
Time and time again, our organisation has delivered the first, the largest, the deepest and the most cost-efficient
installations addressing a wide range of challenges - always with an HSE focus.
Our ambition is to stay at the forefront of technology as one of the world’s leading EPC contractors, and to ensure
that innovation and development work is achieved in harmony with both people and the environment - and to the
best advantage of our customers.
Eldfisk 2/7 S: EPC for topside and bridges
Gudrun: EPC for platform jacket Ekofisk 2/4 L: EPC for platform and bridge
support jackets
Clair Ridge: EPC for two steel jackets and
associated piles
Nordsee Ost: EPC for 49 steel jackets and piles
for offshore wind project
Gulf LNG: EPC for onshore LNG terminalHebron: FEED and site preparation for GBS,
with EPC option
Sakhalin-1: EPC for Arkutun-Dagi GBS
V&M Star: Construction of pipe mill process
building
Kashagan: Contracts for hook-up work Browse: Competition FEED for two TLPs Skarv: Preparation of FPSO
Kollsnes: EPC for modification and development
of gas plant
European CO2 Technology centre at Mongstad
in Norway: EPC for construction

7. 12 13
Water depth:
109 meters
Jacket weight:
Approximately
7 500 tonnes
for jacket design:
19 000 tonnes
Topside weight
We are a knowledge-based
company with unique experience
and know-how, and the drive
to get things done
ÒÒ Our scope: EPC
(engineering, procurement,
construction, load-out and
sea-fastening of the steel
jacket and associated piles)
ÒÒ Contract value:
Approximately
NOK 450 million (2010)
ÒÒ Customer: Statoil
ÒÒ Number 35 in the series
of jackets delivered by our
yard in Verdal, Norway
gudrun

8. 14 15
Setting the standard
Offshore topside facilities
40 years of experience on all types of facilities that
may be required on an offshore facility.
Floating oil & gas facilities
More than 30 floating oil and gas exploration and
production facilities delivered by Kvaerner worldwide.
Concrete GBS for offshore oil & gas facilities
World leader in marine concrete structures for oil
and gas field developments, as the lead contractor
in more than 20 major concrete projects worldwide.
Steel jackets for offshore platforms
35 jackets for oil and gas field developments delivered
since 1975, at a total of more than 250 000 tonnes.
Onshore oil, gas and petrochemical facilities
A leading developer of onshore oil and gas facilities
in Norway, with a strong position in North America
within downstream oil and gas projects, including LNG,
refineries and petrochemical facilities, as well as power
plants, utilities and infrastructure.
Construction and maintenance services
A premier provider to the U.S. and Canadian steel,
power, chemical, petro-chemical and environmental
industries for more than 30 years. Since 2002, we have
provided general construction services to more than
15 different major power plants.
KRISTIN HPHT GAS PLATFORM
The first HPHT (high pressure, high temperature) gas floater.
Delivered by Kvaerner on schedule in 2005.
One of the deepest producing platforms in the world, part of
the ultra-deepwater Gulf of Mexico. Delivered by Kvaerner.
The world’s first offshore LNG regasifier, a strategic component
of the Italian gas system. Delivered by Kvaerner.
17 500 tonne fixed steel substructure for drilling, production,
processing and accommodation facilities. Delivered by Kvaerner.
The first plant of its kind in Europe and the world’s northernmost
liquefied natural gas facility. Delivered by Kvaerner.
New plants, as well as retrofits, environmental modifications,
maintenance and upgrades to existing facilities
BLIND FAITH SEMI-SUBMERSIBLE ADRIATIC LNG TERMINAL GRANE PLATFORM JACKET SNØHVIT LNG PRODUCTION PLANT 15 POWER PLANTS SINCE 2002

9. 16 17
We address the global market
and tailor our delivery models
to match customers’ needs
and business priorities
Two 160 000 m3
full-containment
LNG tanks
and a vaporisation
system
Once complete, the facility
will process approximately
1.5 billion standard
cubic feet of gas per day,
providing the Gulf Coast
region with clean burning
natural gas
ÒÒ Our scope: EPC in joint
venture with IHI Inc,
for onshore LNG import
and regasification terminal
in the United States Gulf
Coast region
ÒÒ Contract value:
USD 680 million (2008)
ÒÒ Peak construction
labour force:
Approximately 650 people
ÒÒ Customer:
Gulf LNG Energy, LLC.
GULF LNG

10. 18 19
Our competence covers
all key disciplines
Kvaerner offers more than 3 000 HSE-focused and experienced in-house resources,
of which approximately 600 in engineering, procurement and project management
disciplines, in addition to a significant number of contract staff.
This is a solid foundation, and ensures that we in cooperation with engineering partners
and sub-contractors are able to plan and execute our projects effectively, and control
quality and risk.
However, our ambitions go even further. We aim for continued growth, and are actively
recruiting additional in-house personnel and seeking new global partnerships.
Kvaerner strives to attract and develop talented people and teams who understand our
customers’ needs and requirements and who can produce and deliver the best solutions.
In-house
resources and
contract staff:
one team
delivering
consistently for
our customers

11. 20 21
Safe delivery on time,
with agreed quality, on budget
World-class studies and design
We deliver technology, products, front-end, system
definition and project execution through our strong
in-house engineering staff and global engineering
partners, including our long-term engineering partner
Aker Solutions.
We offer full field development understanding
– from concept selection to completion – covering
all key products and technologies within field
development.
Best value engineering
For detail engineering, we secure cost-effective project
execution for our customers through in-house resources
and global engineering partners.
Local partnerships, local value creation
Using local partnerships and local value creation,
Kvaerner can contribute to significantly increasing the
local content of a project. This may include the labour
workforce, suppliers and required materials. All of our
EPC projects are overseen by Kvaerner project and
construction management expertise.
Cost-effective, high quality fabrication capacity
Working with our in-house and partner yards, we offer
cost-effective fabrication of hulls for floating facilities.
For topside facilities, we offer cost-effective, flexible
options tailored to our customers’ needs.
We combine the expertise built up over 40 years
at our specialised yards with cost effective fabrication
from our high quality partner yard; the China Offshore
Oil Engineering Corporation (COOEC) yard in Qingdao.
Proven Project Execution Model
We understand that good customer references build
our reputation – and the only way to achieve this is
by consistent and predictable performance. Our Project
Execution Model (PEM) is based on best practice from
many of the industry’s most challenging projects.
PEM ensures efficient project execution and risk
management.
We have experienced project managers and project
services personnel to ensure that all projects, large
or small, are executed in accordance with the PEM
and project specific execution philosophies.
ÒÒ Opportunity appraisal
ÒÒ Feasibility studies
ÒÒ Concept selection
ÒÒ Concept definition
ÒÒ System definition
ÒÒ System design
& layout development
ÒÒ Global design
ÒÒ Detailed design
ÒÒ Work preparation
ÒÒ Prefabrication
ÒÒ Fabrication
ÒÒ Transport & positioning
ÒÒ Assembly
ÒÒ Mechanical completion
ÒÒ Commissioning
ÒÒ Transport & installation
ÒÒ Take-over
ÒÒ Close-out
Feasibility &
concept
System
definition
Detailing &
fabrication
Assembly
& erection
System
completion
Our
proven
Project
Execution
Model

12. 22 23
We are ready to take on
the world’s most demanding
projects with you
Excellent
performance
and operator
feedback
Developed to meet stringent
environmental standards
and operate in
harsh environments,
extreme temperatures
and at long distances
from supply infrastructure
Designed and built to
drill 10 000
metre-long wells
in water depths of
up to 3 000 metres
Aker Barents and Aker Spitsbergen: Two highly sophisticated
6th generation semi-submersible drilling rigs for ultra deep
water and harsh environments.
ÒÒ Our scope: Turn-key contract for the delivery of two
sixth-generation deepwater drilling semi-submersibles
ÒÒ Contract value: NOK 7.6 billion (2005)
ÒÒ Peak construction labour force:
Approximately 4 000 people from 40 nations
ÒÒ Customer: Aker Drilling
Aker H-6e drilling rigs

13. www.kvaerner.com Photos: Statoil, Sakhalin Energy, BP, ConocoPhillips, Adriatic LNG Terminal, Gulf LNG, Aker Solutions, Rolf Estensen