Discover

(Redirected from Aker Kvaerner)

'Aker Kværner' () is a Norwegian multinational provider of services related to engineering, construction, maintenance, modification and operation of both large and small industrial facilities. The company, with roots back to 1841, has its headquarters in Oslo and is listed on Oslo Stock Exchange. Aker Holding, that is owned by Aker ASA (60%), the Norwegian Ministry of Trade and Industry (30%), SAAB (7.5%) and Investor (2.5%), owns 40% of the company.

Contents

Operations

Overview

Field Development Europe

Maintenance, Modifications and Operations Europe

Subsea

Products and Technologies

Oil, Gas, Process and Energy

History

Operations

Overview

The Aker Kværner group provides advanced technology products, on their own or as part of integrated solutions. Aker Kværner's businesses span a number of industries, including petroleum, refining and petrochemicals, pharmaceuticals and biotechnology, power generation, pulp and paper, mining and metals. It also owns a 20% stake in Sea Launch. The group has approximately 23,000 employees in more than 30 countries, in addition to more than 5,500 agency staff and contract personnel.
The financial reporting structure of the group is based on five main segments: Field Development, Maintenance, Modifications & Operations (MMO), Subsea and Products & Technologies, Process and Pulping & Power. In 2004 Oil & Gas represented 65 per cent of group operating revenues and Engineering & Construction 35 per cent.

Field Development Europe

Field Development consists of construction and managing all aspects of deployment of oil and gas fields. The division consists of the divisions Aker Kværner Contracting, Aker Kværner Engineering and Technology in addition to the yards Aker Kværner Egersund, Aker Kværner Stord and Aker Kværner Verdal. The division also owns 12,5% of Aker Arctic ice laboratory.

Maintenance, Modifications and Operations Europe

Maintenance, Modifications and Operations operates on the Norwegian and British continental shelf providing services related to maintenance, modification, inspection, operation and operation support on oil platforms and other offshore installations.

Subsea

The subsea division delivers all kinds of subsea installations providing the full value chain from concept and engineering to manufacturing and operation and maintenance.

Products and Technologies

Products and Technologies provides a larg array of different products and services to the petroleum industry including such things as oil well services, equipment supply, oil prosessing equipment and LNG marine loading arm manufacturing, including the brand names Pusnes and Woodfield.

Oil, Gas, Process and Energy

Oil, Gas, Process and Energy provides development and construction of equipment for Oil & Gas Onshore and Offshore Developments, Chemicals & Polymers, Pharmaceuticals, Government Services and Mining & Metals industries.

History

Aker Kværner is the result of a merger of Aker Maritime and Kværner Oil & Gas in 2002, and later a restructuring resulting in the listing of Aker Kværner on April 2 2004
In February 2006, Finnish-based Metso announced their acquisition of Kværner Pulping and Kværner Power. The merger is expected to be complete in late 2006, after approval of regulatory authorities.