Kvaerner, COOEC establish engineering JV


Kvaerner, COOEC establish engineering JV

QINGDAO, China -- Kvaerner and China Offshore Oil Engineering Co. Ltd (COOEC) have established an engineering JV, Kvaerner COOEC Engineering & Technology Ltd (KCET), located in Qingdao, Shandong, China. KCET is established to carry out and further develop joint engineering capability for international EPC projects.
In April 2013, Kvaerner and COOEC signed a ten-year Strategic Cooperation Agreement with respect to global business development. Currently, COOEC is executing a part of the expansion of the Nyhamna onshore processing plant in Norway for Kvaerner. The partners are currently positioning for other international projects.

The new engineering company will be a part of the Kvaerner's and COOEC's delivery model for international EPC projects. Already, more than 70 experienced engineering personnel from both COOEC and Kvaerner are working to execute basic engineering for KCET's first topside module project in China, Enping Phase II.

"COOEC recognizes Kvaerner as the ideal partner within international deep water and harsh environment projects to support COOEC's ambition domestically and internationally.  Kvaerner will bring international management, tools and working methods while COOEC is providing a team of experienced offshore engineers," Zhou Xuezhong, President and CEO of COOEC said.

"This company will benefit from the combination of Kvaerner's international experience, proven project execution model and COOEC's cost-effective engineering and fabrication methodology. The company will provide a close interaction between engineering and fabrication to ensure control of quality, HSSE, schedule and cost underpinned by safety in design. It will further accelerate the promotion of our joint delivery model to customers. The COOEC partnership is important for Kvaerner's future international growth as well as further development of cost efficient delivery models," Jan Arve Haugan, President and CEO of Kvaerner said.

The new company, which received its business license this spring, is headed by General Manager Arnstein Ansnes from Kvaerner and his deputy is Zhang Yanfang from COOEC. The Chairman of the Board is COOEC E.V.P. Yang Yun.

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