20 September 2019 – The Gyda platform operated by Repsol has produced oil and gas at the Norwegian continental shelf since 1990. Kvaerner has now been awarded a contract from Allseas for offshore preparations assistance, onshore disposal and recycling of the platform when it is decommissioned.

Kvaerner will work together with Allseas at the field offshore to prepare the Gyda platform for decommissioning and transportation to shore. Kvaerner’s decommissioning scope is onshore deconstruction and disposal of the Gyda topside and jacket structures. The work includes load-in assistance, waste management, deconstruction and yard services.

The method for disposal developed by Repsol, Allseas and Kvaerner allows for a potential re-use and re-deployment of the Gyda installation to another field on the Norwegian continental shelf (if that is decided by Repsol at a later stage). For this reason, Kvaerner’s scope of work includes preservation of the Gyda installation.

Kvaerner has a purpose-built facility for deconstruction and recycling of old offshore platforms. The facility is located at Stord at the west coast of Norway, next door to Kvaerner’s advanced facility for construction of new offshore platforms. The co-location allows Kvaerner to optimise HSE, use of facilities, expert employees and capacity. As an effect, Kvaerner has won an increasing number of decommissioning contracts over the last few years. In a typical project, Kvaerner is able to recycle more than 98 percent of an entire platform.

Both the Gyda jacket and topside were originally built by Kvaerner. We are proud to be a part of the next phase of the life cycle and handle the disposal process. Kvaerner’s state of the art decommissioning facility was established already two decades ago, and since then, we have recycled a number of offshore installations, some of which that we have previously designed and constructed. This circular approach to our value chain is not only good for our decommissioning activities, but it also gives us vital knowledge for effective design of new installations, says Guro Høyaas Løken in Kvaerner.

The Gyda oil and gas field is located in the southern part of the Norwegian sector of the North Sea, between the Ula and Ekofisk fields. The platform was installed in 1989 and production started in 1990. The installation includes a topside with drilling systems, living quarters and process facilities, sitting on a steel jacket substructure which stands on the seabed. The intention is that both the 18 000 tonnes topside and the 11 200 tonnes steel jacket substructure will be removed and recycled.

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For further information, please contact:

Media inquiries:
Torbjørn Andersen, Vice President IR & Communications, Kvaerner, Mob: +47 928 85 542, email: torbjorn.andersen@kvaerner.com

Investor inquiries:
Idar Eikrem, EVP & CFO, Kvaerner, Mob: +47 950 28 363, email: ir@kvaerner.com

About Kvaerner:
Kvaerner is a project execution specialist and a trusted advisor for our clients. We provide engineering, procurement and construction (EPC) services and deliver advanced offshore and onshore installations around the world.

We have offices in seven countries and approximately 2 800 employees. Health, Safety, Security and Environment (HSSE) has the highest priority in our work, and we aim to deliver technology and solutions in a safe and sustainable way. Our passion, experience and expertise realise values for clients and societies. Kværner ASA, through its subsidiaries and affiliates ("Kvaerner"), is an international contractor and preferred partner for operators and contractors within oil and gas, renewable energy and in the field of engineering and fabrication.

In 2018, Kvaerner's Field Development segment had consolidated annual revenues of NOK 7.3 billion and the company reported an order backlog at 30 June 2019 of NOK 9 billion. Kvaerner is publicly listed with the ticker "KVAER" at the Oslo Stock Exchange. For further information, please visit www.kvaerner.com (http://www.kvaerner.com).

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