Kvaerner Secures $150M Contract For Exxon Project

Law360, New York (April 25, 2012, 6:34 PM EDT) -- Norwegian oil field engineering firm Kvaerner has reached an agreement with ExxonMobil Canada Properties worth up to $150 million to build an offshore oil platform for Exxon’s Hebron Project, Kvaerner announced Wednesday.

Kvaerner, in a 50/50 joint venture with Peter Kiewit Infrastructure, will build a gravity-based oil platform, located near Newfoundland and Labrador, Canada. Kvaerner estimates that it will receive $125 million to $150 million for its work alone.

Other details about the agreement were not immediately available. Representatives for Kvaerner and Peter Kiewit Infrastructure could...
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