Kværner was a Norway-based engineering and construction services company that existed between 1853 and 2005. In 2004, it was amalgamated to the newly formed subsidiary of Aker ASA - Aker Kværner, which was later renamed to Aker Solutions on 3 April 2008.Kværner re-emerged on 6 May 2011, when the EPC part of Aker Solutions took the Kværner name. The new Kværner company was listed on Oslo Stock Exchange on July 8, 2011. Wikipedia.
Cooper M.D.,Virginia Polytechnic Institute and State University |
Journal of Marine Science and Technology (Japan) | Year: 2015
Monte Carlo analyses are generally considered the standard for uncertainty analysis. While accurate, these analyses can be expensive computationally. Recently, polynomial chaos has been proposed as an alternative approach to the estimation of uncertainty distributions (Hosder et al. A non-intrusive polynomial chaos method for uncertainty propagation in CFD simulations. In: 44th AIAA aerospace sciences meeting and exhibit, Reno, Nevada, 2006; Wu et al. Uncertainty analysis for parametric roll using non-intrusive polynomial chaos. In: Proceedings of the 12th international ship stability workshop, Washington, DC, USA, 2011). This approach works by representing the function as a series of orthogonal polynomials; the weights for which can be calculated via several methods. Previous studies have demonstrated the usefulness of this technique for comparatively simple systems such as parametric roll modeled by the Mathieu equation with normally distributed parameter values (Wu et al. Uncertainty analysis for parametric roll using non-intrusive polynomial chaos. In: Proceedings of the 12th international ship stability workshop, Washington, DC, USA, 2011). In the present work, a polynomial chaos method is applied to a nonlinear computational ship dynamics model with normally distributed input parameters. Test cases were selected where parametric roll was expected to potentially occur. The resulting probability distributions are compared to the results of a Monte Carlo analysis. In general, these results demonstrate good agreement between Monte Carlo simulation and polynomial chaos in the absence of capsize with significant computation gains found with polynomial chaos. Overall, we conclude that polynomial chaos is an effective tool for reducing simulation time costs when studying parametric roll, and potentially other ship dynamics phenomena, particularly in the absence of capsize-like bifurcations. © 2015 JASNAOE Source
Edwards V.H.,Kvaerner |
Chosnek J.,Process Safety Management and Knowledge Management with KnowledgeOne
Chemical Engineering Progress | Year: 2012
An inherently safer design (ISD) in a chemical process industry can require less costly maintenance and be easier to operate, while at the same time reducing risks. A lifecycle cost benefit analysis can be used to evaluate modernize the existing plant with a new process technology, build a new plant based on the new process technology, and continue to operate the existing plant with a major design change. ISD requires conducting a process hazard analysis (PHA) and a risk assessment, and as such ISD review should be integrated into the PHA and risk assessment activity. DuPont developed an alternative chemistry that has allowed for the use of a starting material that is significantly less hazardous than methyl isocynate (MIC), eliminating risk of shipping and storing MIC. A quantitative risk analysis is conducted to compare the risk of fatalities if a loss of containment occur in the original or the new bromine delivery systems. Source
Kvaerner | Date: 2010-11-11
A compact desalting system for use in a process of desalting crude oil comprises a plurality of separation stages. Each separation stage includes a compact electrostatic coalescer (
News Article | April 1, 2015
Operating revenues for the fourth quarter amounted to NOK 3 591 million, compared with NOK 3 939 million for the fourth quarter 2013. Revenues for the full year increased by NOK 985 million to NOK 13 945 million versus NOK 12 960 million for 2013. Revenues including incorporated joint ventures were NOK 17 531 million, an increase of 9 percent from NOK 16 091 million for the full year 2013. The EBITDA result for the year amounted to NOK 829 million, resulting in an EBITDA margin for the year of 5.9 percent. Goodwill impairment of NOK 266 million related to business area Contractors International recognised in the quarter following the company's impairment test. In line with the company's dividend policy, the Board of Directors proposes to pay a dividend of NOK 0.67 per share in April 2015. The results for 2014 mirrors that Kvaerner has had a particular high activity level on several projects in parallel. In addition to utilising the full capacity of our own organisation, we have had a record high number of contract staff and subcontractors assisting us in the execution of this workload. Going forward, we are aiming for an annual activity level of NOK 10 - 11 billion. Kvaerner worked hard in 2014 to improve the results from projects started in a different market situation compared to what we see today. On top of this, claims related to past projects have been settled. In total, these factors have all contributed to a positive development for the results last year, says Jan Arve Haugan, President & CEO of Kvaerner. Order intake in the fourth quarter 2014 was NOK 1 274 million, versus NOK 1 925 million in the fourth quarter 2013. The order backlog was NOK 16 451 million at the end of 2014. The work to execute the existing order book will mainly be executed this year and in 2016. Hence, Kvaerner's order book provides a good foundation and momentum for further efforts to increase productivity and improve the cost level. Through 2014, we identified opportunities to cut costs for new projects. The signing of the EPC contract for the steel jacket substructure for the Johan Sverdrup Riser Platform on 20 January 2015 shows that Kvaerner documented that these improvements are implemented. We are not stopping there. Already from the start of 2015, we are taking further, concrete steps in cooperation with our customers to reduce costs and increase competitiveness, says Haugan. Kvaerner's markets are currently volatile, but the company see a fundamental, long term demand for offshore platforms and onshore facilities with requirements which fits well with Kvaerner's strengths. Some few, key contracts with a good match with Kvaerner's capabilities are expected to be awarded during 2015. Kvaerner is a leading provider of engineering, procurement and construction (EPC) services, and delivers offshore installations and onshore plants for upstream oil and gas production around the world. Kværner ASA, through its subsidiaries and affiliates ("Kvaerner"), is an international contractor and preferred partner for oil and gas operators and other engineering and fabrication contractors. Kvaerner and its approximately 3 000 HSSE-focused and experienced employees are recognized for delivering some of the world's most amazing and demanding projects. In 2014, the Kvaerner group had consolidated annual revenues of close to NOK 14 billion and the company reported an order backlog at 31 December of NOK 16.5 billion. Kvaerner is publicly listed with the ticker "KVAER" at the Oslo Stock Exchange.For more information, please visit : http://www.kvaerner.com
News Article | January 4, 2015
4 January 2015 - Kvaerner North American Construction Inc. (a subsidiary of Kvaerner) has executed agreements with each of Longview Power, LLC, Siemens Energy Inc. and others regarding the disputes between them in both the arbitration proceedings concerning the Longview Project and the subsequent bankruptcy cases of Longview Power, LLC. Under the agreements, Kvaerner North American Construction Inc. will receive an aggregate amount of USD 48 million from various parties. In consideration, Kvaerner North American Construction Inc. will settle certain claims and release the Mechanics` Liens filed against the Longview power plant properties in Maidsville, West Virginia, and will waive all objections in the ongoing Longview Power, LLC bankruptcy proceedings. The settlement is subject to approval in the bankruptcy proceedings. The approval is expected to take place in January 2015 with the receipt of the above-referenced amounts anticipated to occur in February 2015. The financial effects of the agreement will be recognised in Kvaerner`s first quarter 2015 accounts. The main financial effects will be reduction of retained assets in the group`s balance sheet of USD 48 million. The agreements, upon approval, significantly reduce Kvaerner`s uncertainty regarding the final financial outcome of the arbitration and resolve all counterclaims from Longview Power, LLC. Kvaerner North American Construction Inc. will continue the arbitration proceedings against Amec Foster Wheeler North America Corp. This process is expected to continue until third quarter 2015. For further information, please contact: About Kvaerner: Kvaerner is a leading provider of engineering, procurement and construction (EPC) services, and delivers offshore installations and onshore plants for upstream oil and gas production around the world. Kværner ASA, through its subsidiaries and affiliates ("Kvaerner"), is an international contractor and preferred partner for oil and gas operators and other engineering and fabrication contractors. Kvaerner and its approximately 3 000 HSSE-focused and experienced employees are recognized for delivering some of the world`s most amazing and demanding projects. In 2013, the Kvaerner group had consolidated annual revenues of close to NOK 13 billion and the company reported an order backlog at 30 September of NOK 19.4 billion. Kvaerner is publicly listed with the ticker "KVAER" at the Oslo Stock Exchange. For further information, please visit www.kvaerner.com. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.