Kvaerner wins $1.5B EPC contract for oil project in Newfoundland and Labrador

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Kvaerner announced that its joint venture company Kiewit-Kvaerner Contractors has received an engineering, procurement and construction (EPC) contract from ExxonMobil Canada Properties for the Hebron Project gravity based structure (GBS).

The contract value for Kvaerner’s share of the full EPC contract is about USD 1.5 billion and includes work conducted to date on the Hebron project.

The work will be performed in Newfoundland and Labrador, Canada, with engineering in St. John’s and construction at the Bull Arm fabrication yard.

The authorization to proceed with the full EPC contract follows the substantial completion of the Front End Engineering and Design (FEED) and site preparation contract awarded November 9, 2010 and the authorization of 25 April 2012 to proceed with detailed engineering, procurement and construction (EPC) related services throughout 2012.

The completed GBS will be installed at the Hebron field on the Grand Banks in the Atlantic Ocean located 350 kilometers offshore from St. John’s, Newfoundland and Labrador, Canada. First oil is anticipated by the end of 2017.

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