Løken Named CEO at Kvaerner
Karl-Petter Løken has been appointed President and Chief Executive Officer (CEO) for the international contracting company Kvaerner. Løken succeeds Jan Arve Haugan, who left Kvaerner for a position at Aker Energy. Kvaerner's EVP & CFO Idar Eikrem will continue as interim CEO until Løken steps into the role this spring after ending his current position as head of Project Development for Lundin Norway. Since 1991, Løken has held positions in the oil and gas industry for companies like Statoil, Aker Solutions and Lundin Norway. From 2011 to 2015
CEO Haugan Leaves Kvaerner to Lead Aker Energy
Jan Arve Haugan resigns as President & CEO of Kvaerner, and from March 1, 2018, he will start his new role as CEO of the newly established oil company Aker Energy. Idar Eikrem, Executive Vice President and Chief Financial Officer in Kvaerner, is appointed interim CEO. Haugan has been President & Chief Executive Officer with Kvaerner since its demerger from Aker Solutions and stock listing in the summer of 2011. "Under Jan Arve Haugan's management, Kvaerner has developed into a leading, renowned oil service company with EPC services as our specialty. Competitiveness
Kvaerner Reports Robust 3Q Results in Challenging Market
in the same period last year and 5.7 percent in the previous quarter. "The margin reflects our improvements and ability to deliver predictably, which affected the results positively through reaching planned milestones on several projects," says Kvaerner's President & CEO Jan Arve Haugan. Kvaerner's efforts to improve costs, quality, productivity and competitiveness are currently yielding results on the current portfolio of projects. During the third quarter, two jackets and the topside for Johan Sverdrup passed 20 percent completion, and accumulated profit for these projects
Kvaerner, Statoil Ink Njord A Deal
agreement with an estimated value of NOK 120 million. "We are proud to have been awarded this project in tough competition. We believe it is a result of our extensive efforts to increase competitiveness, and it demonstrates a trust in our ability to deliver complex projects on time", says Jan Arve Haugan, President & CEO of Kvaerner. Due to insufficient structural integrity for future operations and drilling, the Njord A Platform will be towed to shore in 2016. In addition, the yard-stay period will be used for a general upgrade of the platform. The project framework agreement (PFA)
Increased Norwegian Content for Johan Sverdrup Platform
, this results in an increase of more than 200 man years involved in the work with the topside and steel jackets. At peak, around 2 000 employees will be involved in Kvaerner's Johan Sverdrup deliveries. This will at the same time result in positive effects for our subcontractors in Norway, says Jan Arve Haugan, President & CEO of Kvaerner. Kvaerner has for many years been one of the companies in Norway educating the most apprentices. In 2015, Kvaerner had 121 apprentices. Future value creation and competitiveness for Norway and for the whole oil and gas sector is dependent on that we continually
Kværner Reports Robust Performance
. We continue to see some selected prospects of interest within our segments, and we make further steps to improve of our competitiveness. The core asset is that our people have proven expertise and experience to execute complete project deliveries with the lowest total price," says Jan Arve Haugan, President & CEO of Kvaerner. In July 2015, the credit facility of NOK 3 billion was successfully refinanced. Kvaerner also maintains a robust cash situation. Net current operating assets (NCOA) were negative NOK 483 million at quarter end, compared to NOK 541 million at the end of the
Kvaerner 1Q Growth Continues Despite Odds
12 to 24 months, Kvaerner see a long term fundamental market demand for our core expertise and solutions. We continue to drive our cost and productivity improvements in close cooperation with the oil companies, and we are positioned in segments where there will be key contract awards in 2015, says Jan Arve Haugan, President & CEO of Kvaerner
Kværner: Edvard Grieg Topside Ready
years ago. The topside is not only delivered on time but also to agreed quality and exceptionally little outstanding work. This is another demonstration of Kvaerner's and the Norwegian supplier industry's ability to execute large, complex projects without expensive quality errors and delays, says Jan Arve Haugan, President & CEO of Kvaerner. The topside consists of a main deck module, a combined utility module and living quarters, a process module and a flare tower. The main deck module and the combined utility module and living quarters have both been moved to barges at Stord, ready for
Kvaerner, KBR Partner for Johan Sverdrup Contracts
include four offshore platforms for a new field center. "KBR is one of the world's most recognized EPC contractors, with a successful project execution track record in Norway, and Kvaerner is excited about this partnership for the pursuit of this important market opportunity," said Jan Arve Haugan, President & CEO of Kvaerner. "The new joint venture can provide proposals to potential clients, not only based on an efficient delivery model and strong capabilities, but also with our shared focus on health, safety, security and environment. It is my strong belief that by combining
February 2024
