Two Alternative Contract Strategies Contract issues discussion Strength - Weakness

Size: px
Start display at page:

Download "Two Alternative Contract Strategies Contract issues discussion Strength - Weakness"

Transcription

1 Contract Issues 1

2 Two Alternative Contract Strategies Contract issues discussion Strength - Weakness 2

3 If you like challenges, try an interface 3

4 Why EPC contract Single point responsibility for safety, progress, quality and warranties Potential for reduced execution time Potential for reduced investment costs Few contractual interfaces Multi discipline execution and coordination 4

5 EPC alternatives Main alternative EPC Contracts: FIDIC, NTK/NF and NS 8407 FIDIC: «no» tradition in Major Norwegian Industry Companies NTK/NF: used extensively by Major Norwegian Industry Companies in Norway and abroad, onand offshore (Statoil, Hydro, Norske skog, etc.) NS 8407: used by JBV, Statsbygg, SVV and construction generally in Norway. FIDIC: Fédération Internationale Des Ingénieurs-Conseils NTK/NF: Norsk totalkontrakt/norsk fabrikasjonskontrakt NS: Norsk standard 5

6 NS : NS : NS 401 A. 1969: NS : NS : NS 3431 (totalentreprise (EPC)) 2004 :NS : NS 8406 («enklere variant» av NS 8405) 2008: NS 8405 (mindre revisjon) 2011: NS 8407 (totalentreprise (EPC)) Merk: NS 3431 og NS 8407 er totalentrepriser, øvrige NS er byggherrestyrte kontrakter. 6

7 NTK/NF 1974: Norsk Hydro contract for Ethylene Plant, Rafnes 1977: Norsk Hydro Model Contract 1983: North Sea Offshore Lump Sum Construction Contract (MVL (=Norsk industri) and NIFO) 1987: Norsk Fabrikasjonskontrakt 1987 (NF 87) 1992: NF : Norsk Totalkontrakt 2000 (NTK 2000) 2005: NF : NTK : NF : NTK 07 Note: NTK is EPC («design-build»); NF is PC («design-bid-build») 7

8 NTK/NF vs NS NTK07/NF07 Structured with Attachments. Used by major Norwegian industry companies domestically and abroad. Good experience. More Owner friendly than NS 8407, e.g. NO preclusion regarding changes. NS 8407 Layer-on-layer principle («mountain» of contradictory pages). Not used by major Norwegian industry companies. Not Owner friendly, e.g. preclusion regarding changes. Conclusion: FB will use NTK07 modified; NS 8407 is too risky. 8

9 The Approved Contract Strategy 9

10 The Appoved Contract Strategy 10

11 Requirements on our Contractors High safety standard Documented excellent safety record at previous projects Bidders to describe in detail how to obtain top class safety standard at FB sites Ability to perform the work according to agreed quality, schedule and cost Experienced and competent organization Ability to cooperate with client Construction close to tracks in operation 11

12 Requirements on Ourselves High Quality ITT s and Contacts High Quality Geotechnical Baseline Report (GBR) Fair sharing of risk Fair and clear compensation mechanisms Walk-to-Talk Role model on safety issues Keep our sheet clean (e.g. no delay on approvals of drawings, etc.) We keep what you promise Make the Contractors good Enable the Contractors to excel 12

13 Main Follo Line Contracts Oslo S D&B Tunnel TBM Ski EPC Oslo S EPC D&B EPC TBM EPC Ski Substructure (~ 2 mrd. NOK) Substructure (~1 mrd. NOK) Substructure (~ 7 mrd. NOK) Substructure (~ 2 mrd. NOK) + Railway Systems (~ 0,5 mrd. NOK) + Railway Systems (~ 1,2 mrd. NOK) + Railway Systems (~ 0,7 mrd. NOK) Signal (Oslo S GS extension) (~ 0,4 mrd. NOK) EPC Signal (Thales) (~ 0,5 mrd. NOK) 13

14 Clean interface to Main EPC s & Enhancement of Owner organisation Type of Scope Oslo S Langhus-Ski Oslo - Ski Clean Interface to Main EPC s Preparatory Work Demolition Technical Scope Demolish: Borgen Garasjen Presenningtørka Fyrhus Locate and relocate cables Prep. Work for track and rail tech. Modify part of Skeidarbygget Demolish Omformerhall Locate and relocate Cables Extend Cable bridge Establish power supply to Åsland for 4 TBM and segment prefab. Rig Areas, adit tunnels Rig area Oslo S Rig area Langhus Rig area Åsland Adit tunnel Åsland Prep. Work Sydhavna (soil transp.) Enhancement of Owner Organisation Project Service Agreement (PSA) Technical resources Technical resources Technical resources 14

15 Questions? Follobanen Langhus Ski og Ski hensetting Informasjonsmøte 24. oktober

Collaboration between Brazil and Norway in the field of oil and gas research and technology and exchange of human resources(bn21)

Collaboration between Brazil and Norway in the field of oil and gas research and technology and exchange of human resources(bn21) Collaboration between Brazil and Norway in the field of oil and gas research and technology and exchange of human resources(bn21) Director general Marit Engebretsen NHO, 23 January 2014 Brazil 25 November

More information

The Follo Line Project

The Follo Line Project The Follo Line Project Longest. UrbAN. Complex. Faster. 2015/1 Norwegian National Rail Administration the follo line project 1 2 the follo line project The project The Follo Line Project is currently the

More information

Agenda. Det norske always moving forward Ivar Aasen project learning points Field development what will it take? Observations

Agenda. Det norske always moving forward Ivar Aasen project learning points Field development what will it take? Observations Agenda Det norske always moving forward Ivar Aasen project learning points Field development what will it take? Observations DET NORSKE Concentrated in two core areas Utsira High Greater Alvheim area GREATER

More information

PROJECT ESTIMATION & CONTROL

PROJECT ESTIMATION & CONTROL PROJECT ESTIMATION & CONTROL Jean-François REITER VP Project Estimation & Control INVESTOR DAY, PARIS, FRANCE - October 22, 2004 E.P.C. LUMP SUM CONTRACTS Technip guarantees to its client: The price of

More information

Geoff Schmitt FRICS FInstCES FCIArb. Mission Statement. Major Projects. Potential Target Locations. Paper Summary

Geoff Schmitt FRICS FInstCES FCIArb. Mission Statement. Major Projects. Potential Target Locations. Paper Summary Geoff Schmitt FRICS FInstCES FCIArb Dispute Resolution Consultant Expert Witness Overseas civil engineering projects CONTRACTING IN THE GLOBAL MARKET PLACE Geoffrey SCHMITT, United Kingdom Over 40 years

More information

Songa Offshore SE Q2 2009. July 31, 2009

Songa Offshore SE Q2 2009. July 31, 2009 Songa Offshore SE Q2 2009 July 31, 2009 Highlights Q2 Move to Cyprus registered on May 11, headquarters moved to Limassol from same day Finalised SPS for Songa Dee, estimated cost increased to USD 65 mln

More information

The Need for a Clean Shelf in Norway

The Need for a Clean Shelf in Norway Maximising value from the NCS through teamwork and technology Pareto 1 September 2004 Sveinung Sletten Vice president external affairs Value analysis SDFI portfolio, 2003 500 400 66 14 26 NPV 7%, mrd kr

More information

How To Write New Government Construction Contracts

How To Write New Government Construction Contracts HUSSEY FRASER SOLICITORS 1. Objectives of new contracts 2. How objectives are to be achieved Risk Transfer Procedural / Information Burden 3. Termination Provisions 4. Collateral Warranties 5. Conclusion

More information

Meeting Call Norwegian Oil and Gas Association branch board for oil companies No 1/2013

Meeting Call Norwegian Oil and Gas Association branch board for oil companies No 1/2013 Meeting Call Norwegian Oil and Gas Association branch board for oil companies No 1/2013 Date: Thursday 14 March 2013 Venue: Norwegian Oil and Gas s offices in Sandnes, Vassbotnen 1 Time: 09:30 12:00 Agenda

More information

Oslo Børs VPS Holding ASA 1st Quarter 2011

Oslo Børs VPS Holding ASA 1st Quarter 2011 Oslo Børs VPS Holding ASA 1st Quarter 2011 28 April 2011 Overview First quarter highlights Increased market activity compared to last quarter Operating revenues: NOK 243.0 million (246.1) Operating profit

More information

MILJØPAKKEN: Greener Trondheim Partnership for sustainable transport

MILJØPAKKEN: Greener Trondheim Partnership for sustainable transport MILJØPAKKEN: Greener Trondheim Partnership for sustainable transport 13th March 2013 Henning Lervåg Head of Miljøpakken 10 concrete, verifiable goals 1. Minimum 20 % reduction in CO 2 emissions from transport

More information

Project and site organization of a NATM tunnel project on the example of the Koralm tunnel. Hanns Wagner OBB Austrian Federal Railways

Project and site organization of a NATM tunnel project on the example of the Koralm tunnel. Hanns Wagner OBB Austrian Federal Railways Project and site organization of a NATM tunnel project on the example of the Koralm tunnel Hanns Wagner OBB Austrian Federal Railways Requirements for a successful application of NATM Design, which considers

More information

New contract for jacket to the Johan Sverdrup Process Platform. 8 October 2015 Sverre Myklebust, Executive Vice President, Jackets

New contract for jacket to the Johan Sverdrup Process Platform. 8 October 2015 Sverre Myklebust, Executive Vice President, Jackets New contract for jacket to the Johan Sverdrup Process 8 October 2015 Sverre Myklebust, Executive Vice President, Jackets Kvaerner involvement in Johan Sverdrup so far: 1 PLATFORM TOPSIDE: Scope: EPC delivery

More information

Competitive financing from Norway

Competitive financing from Norway Competitive financing from Norway Long-term loans to Myanmar projects sourcing from Norwegian suppliers December 2014 Ulla Wangestad, Legal Director, GIEK Ivar Slengesol, Director of Lending Industry and

More information

Work experience: ---- Major projects ---- Code: E=Engineering, A=Architectural discipline I=Insulation Discipline

Work experience: ---- Major projects ---- Code: E=Engineering, A=Architectural discipline I=Insulation Discipline Name: Harald Larsen Address: Malmvn. 9 3727 Skien Date of birth: 060256 Languages: Norwegian, English Telephone: + (47) 35 91 10 30 (work) + (47) 35 53 65 92 (home) + (47) 911 75 149 (cell phone) e-mail:

More information

TBMs for Norwegian Hydropower projects. Sindre Log The Robbins Company

TBMs for Norwegian Hydropower projects. Sindre Log The Robbins Company TBMs for Norwegian Hydropower projects Sindre Log The Robbins Company Who am I? Sindre Log M.Sc. Civil engineering, NTNU Specializations in tunneling, geology and Project management Working out of Oslo,

More information

Oslo Børs Holding ASA first quarter 2005

Oslo Børs Holding ASA first quarter 2005 Oslo Børs Holding ASA first quarter 25 First quarter in brief: Operating revenues: NOK 79. (71.) million Operating profit: NOK 37. (29.1) million Earnings for the period: NOK 34.9 (21.5) million Earnings

More information

Aker Solutions Splits Into Two Companies

Aker Solutions Splits Into Two Companies Fornebu, April 30, 2014 Øyvind Eriksen, Executive Chairman 2014 Aker Solutions Boosting Value Through Two New Companies New Aker Solutions Swifter realization of synergies, operational excellence and organic

More information

Semicolon. Semantic and Organisational Interoperability in Communicating and Collaborating Organisations issues in public sector in Norway

Semicolon. Semantic and Organisational Interoperability in Communicating and Collaborating Organisations issues in public sector in Norway Semicolon Semantic and Organisational Interoperability in Communicating and Collaborating Organisations issues in public sector in Norway Arthur Berg Reinertsen, Gent, November 2009 Background 2 Semicolon

More information

How To Know How Many Major Transport Accidents In Norway

How To Know How Many Major Transport Accidents In Norway Major transport accidents in Norway: assessing long-term frequency and priorities for prevention Rune Elvik, Institute of Transport Economics, Oslo, Norway Problems to be discussed How many major transport

More information

Shtokman Development AG

Shtokman Development AG Shtokman Development AG Integrated Development of the Shtokman Gas- Condensate Field. Phase 1 SDAG Standard EPC Contract. Main Principles. EPC Contracts What is an EPC contract? - Contract for Engineering,

More information

Norwegian electromobility policy for 2020

Norwegian electromobility policy for 2020 Norwegian electromobility policy for 2020 Per-André Torper Norwegian Ministry of Transport and Communications Oslo, June 11 th 2015 Sold cars in May 2015 1. Volkswagen Golf 1 323 2. Tesla Model S 346 3.

More information

IMIA Short Paper (Provided by Michael Spencer, Zurich London - June 2008) The Tunnel Code of Practice for Risk Management 5 Years On

IMIA Short Paper (Provided by Michael Spencer, Zurich London - June 2008) The Tunnel Code of Practice for Risk Management 5 Years On IMIA Short Paper (Provided by Michael Spencer, Zurich London - June 2008) The Tunnel Code of Practice for Risk Management 5 Years On The Code of Practice for the Risk Management of Tunnel Works has been

More information

BOUNDARY DAM CCS CROSSES THE FINISH LINE. October 2014

BOUNDARY DAM CCS CROSSES THE FINISH LINE. October 2014 Bellona Europa europe@bellona.org Rue d Egmont 15 +32 (0)2 648 31 22 1000 Brussels www.bellona.org BOUNDARY DAM CCS CROSSES THE FINISH LINE October 2014 Canadians can be proud of the Boundary Dam CCS facility,

More information

NEPAL ACCOUNTING STANDARDS ON CONSTRUCTION CONTRACTS

NEPAL ACCOUNTING STANDARDS ON CONSTRUCTION CONTRACTS NAS 13 NEPAL ACCOUNTING STANDARDS ON CONSTRUCTION CONTRACTS CONTENTS Paragraphs OBJECTIVE SCOPE 1 2 DEFINITIONS 3 6 COMBINING AND SEGMENTING CONSTRUCTION CONTRACTS 7 10 CONTRACT REVENUE 11 15 CONTRACT

More information

Norsk vannkrafts rolle i Europa

Norsk vannkrafts rolle i Europa Norsk vannkrafts rolle i Europa Tekna Oslo, 28 Apr. 2015 Prof. Magnus Korpås Inst. for elkraftteknikk NTNU Norwegian University of Science and Technology Norwegian University of Science and Technology

More information

Oslo Børs VPS Holding ASA 4th Quarter 2010

Oslo Børs VPS Holding ASA 4th Quarter 2010 Oslo Børs VPS Holding ASA 4th Quarter 2010 17 February 2011 Overview Fourth quarter highlights Increased market activity compared to last quarter Proposed dividend of NOK 8,- per share Operating revenues:

More information

Data Centres that never, never, ever go down

Data Centres that never, never, ever go down Data Centres that never, never, ever go down Investing in Norwegian Data Centres 13 February 2013 J. Byrne Murphy - Chairman DigiPlex Group of Companies My Topics Today Investing In Norwegian Data Centres

More information

The Technology Challenge. Agenda - The Technology Challenge

The Technology Challenge. Agenda - The Technology Challenge The Technology Challenge British and Norwegian Oil and Gas Industry Collaboration Conference R. Rasmus Sunde Executive Vice President London, October 26, 2005 Agenda - The Technology Challenge Overall

More information

FACULTY OF SCIENCE AND TECHNOLOGY MASTER'S THESIS. Author: Fredrik Horne (signature author)

FACULTY OF SCIENCE AND TECHNOLOGY MASTER'S THESIS. Author: Fredrik Horne (signature author) FACULTY OF SCIENCE AND TECHNOLOGY MASTER'S THESIS Study program/specialization: Master of Science, Industrial Economics Project- and Contract Management Spring semester, 2009 Confidential Author: (signature

More information

GENCO HOLDING COMPANY LIMITED (GHCL) PROFORMA PC-II

GENCO HOLDING COMPANY LIMITED (GHCL) PROFORMA PC-II GENCO HOLDING COMPANY LIMITED (GHCL) PROFORMA PC-II HIRING OF CONSULTANTS FOR EIAs, PC-1 & BIDDING DOCUMENTS FOR COAL FIRED POWER PLANT 2X660 MW (Gross) AT LAKHRA, AND FEASIBILITY OF 1x660 MW (Gross) AT

More information

Linear Schedules for Tunnel Projects

Linear Schedules for Tunnel Projects Mun Wei Leong Jacobs Associates Seattle, WA Linear Schedules for Tunnel Projects Daniel E. Kass, P.E. Jacobs Associates San Francisco, CA ABSTRACT: Tunneling projects lend themselves to the use of linear

More information

Preferred partner. Investor Day 2015. London, March 17, 2015 Luis Araujo, CEO Svein Stoknes, CFO

Preferred partner. Investor Day 2015. London, March 17, 2015 Luis Araujo, CEO Svein Stoknes, CFO Investor Day 2015 London, March 17, 2015 Luis Araujo, CEO Svein Stoknes, CFO 2015 Aker Solutions Slide 1 March 17, 2015 Investor Day 2015 Forward-Looking Statements and Copyright This Presentation includes

More information

The Norwegian Model: Evolution, performance and benefits

The Norwegian Model: Evolution, performance and benefits The Norwegian Model: Evolution, performance and benefits Ola Borten Moe Minister of Petroleum and Energy Olje- og energidepartementet regjeringen.no/oed Our largest industry Norwegian Oil and Gas Activities

More information

The Norwegian Experience

The Norwegian Experience The Norwegian Experience Jerusalem, January 23 rd 2012 www.agr.com 1 About the presenters Eivind Reiten Chairman AGR CEO Hydro from 2001 to 2009 Minister of Oil & Energy from 1989 to 1990 Minister of Fishery

More information

Background. When the Government Is the Landlord. 1 Norway's oil and gas reserves are all offshore.

Background. When the Government Is the Landlord. 1 Norway's oil and gas reserves are all offshore. Regional Details: Norway In this appendix, we describe the methods the government uses to obtain revenues from oil and gas production in Norway. We present quantitative estimates of revenues as well as

More information

Det norske a new large independent. Odd Ragnar Heum, Det norske oljeselskap ASA

Det norske a new large independent. Odd Ragnar Heum, Det norske oljeselskap ASA Det norske a new large independent Odd Ragnar Heum, Det norske oljeselskap ASA A new large independent Who we are... How we will operate A fully fledged O&G company Among the largest European Independents

More information

Offshore Norwegian sector 1999-2009: 2 Offshore Norwegian sector 1990-1998:11.2 Ambulance/police 1990-2012: 24.4 AW/PAX 1990-2012: 150.

Offshore Norwegian sector 1999-2009: 2 Offshore Norwegian sector 1990-1998:11.2 Ambulance/police 1990-2012: 24.4 AW/PAX 1990-2012: 150. Accident prevention Helicopter offshore vs onshore? HFC meeting, Trondheim 14.-15.October 2015 Rolf Johan Bye, Senior Safety Adviser 19/10/2015 Number of accidents per million flight hours helicopter operations

More information

Forsikring av offshoreprosjekter Foreleser: Harry Nilsen, Norsk Hydro

Forsikring av offshoreprosjekter Foreleser: Harry Nilsen, Norsk Hydro Forsikring av offshoreprosjekter Foreleser: Harry Nilsen, Norsk Hydro Ettertrykk er kun tillatt etter avtale med foreleser og Tekna Hydro Oil & Energy Erfaringer vedr. utviklingen av forsikringspremier

More information

SKAGEN Vekst. Status as of 30-11-05

SKAGEN Vekst. Status as of 30-11-05 SKAGEN Vekst Status as of 30-11-05 Why SKAGEN Vekst? Balanced portfolio adapted to Norwegian investors Better geographic spread than pure Norwegian fund Better industry balance than a Norwegian fund =

More information

2013 On track for more!

2013 On track for more! 2013 On track for more! Parliament Government Jernbaneverket in Norwegian society Ministry of Fisheries and Coastal Affairs Ministry of Transport and Communications Norwegian Railway Inspectorate Norwegian

More information

The Transformation of the Norwegian Maritime Industry to a Global Maritime Knowledge Hub

The Transformation of the Norwegian Maritime Industry to a Global Maritime Knowledge Hub The Transformation of the Norwegian Maritime Industry to a Global Maritime Knowledge Hub Professor BI Norwegian Business School Oslo, Norway OECD Workshop on the Future of Shipbuilding Paris, November

More information

Norwegian Research Centre for Offshore Wind Technology

Norwegian Research Centre for Offshore Wind Technology Norwegian Research Centre for Offshore Wind Technology John Olav Giæver Tande Manager NOWITECH Senior Research Scientist SINTEF Energy Research John.tande@sintef.no 1 Preface The Research Council of Norway

More information

Status og utsikter for norsk sokkel

Status og utsikter for norsk sokkel Status og utsikter for norsk sokkel Marknadskreftene rår «Oljetrykket» Seminar i regi av DNB og Næringsforeningen i Stavanger-regionen Stavanger, 2. mars 214 Klaus Mohn, professor of petroleum economics

More information

JUA Underwriting Agency Pty Ltd

JUA Underwriting Agency Pty Ltd JUA Underwriting Agency Pty Ltd Engineers & Architects Professional Indemnity Proposal Form Please answer every question fully, incomplete answers will not be accepted, and may result in a delay in terms

More information

ABG Sundal Collier. Preliminary 2009 results. Press Release

ABG Sundal Collier. Preliminary 2009 results. Press Release Press Release ABG Sundal Collier Preliminary 2009 results Oslo, 15 February 2010 The markets in Q4 continued to improve, but revenues have still not reached the levels of previous years. Group revenues

More information

National insurance retirement pensions

National insurance retirement pensions National insurance retirement pensions // Retirement pension Do you know the rules for retirement pensions? New rules for retirement pensions from the National Insurance Scheme were introduced on 1 January

More information

ENGLISH. To all, whose native language is not Norwegian!

ENGLISH. To all, whose native language is not Norwegian! ENGLISH To all, whose native language is not Norwegian! 2 Why should you be a member of the Norwegian Union of General Workers (NAF)? This is what NAF offers you The Norwegian Union of General Workers

More information

Delivering Engineering Services to UK Infrastructure through our branded businesses nationwide

Delivering Engineering Services to UK Infrastructure through our branded businesses nationwide Delivering Engineering Services to UK Infrastructure through our branded businesses nationwide Renew provides multidisciplinary engineering services to maintain and develop UK infrastructure focused in

More information

ERTMS - National implementation plan

ERTMS - National implementation plan ERTMS Page: 2 av 9 ERTMS - National implementation plan 00E First release 09.07.2013 KLY SKEI KJENSV Revision Reason for issue Date Created by Contr. by Appr. by Title: ERTMS - National implementation

More information

Overcoming financing challenges for Hydro Power Projects Francois Viljoen, Director, Cresco Project Finance, South Africa

Overcoming financing challenges for Hydro Power Projects Francois Viljoen, Director, Cresco Project Finance, South Africa Overcoming financing challenges for Hydro Power Projects Francois Viljoen, Director, Cresco Project Finance, South Africa Contents Features of Project Finance Challenges posed by Project Finance Risk assessment

More information

Electric vehicles or use of hydrogen in the Norwegian transport sector in 2050?

Electric vehicles or use of hydrogen in the Norwegian transport sector in 2050? Electric vehicles or use of hydrogen in the Norwegian transport sector in 2050? Klaus Skytte DTU Management Engineering Energy Economics and Regulation klsk@dtu.dk TOP NEST workshop - WP2 NIFU, Oslo, 2

More information

Gharbeya Water and Wastewater Company - Background

Gharbeya Water and Wastewater Company - Background Gharbeya Water and Wastewater Company - Background The Gharbeya company is located in the Delta Population: 4,170,000 Water coverage: 90% Water accounts: 730,000 Wastewater coverage: 35% Wastewater accounts:

More information

SINTEF Energy Research

SINTEF Energy Research SINTEF Energy Research We develop solutions for the great challenges of our time. We are an internationally leading research and knowledge institute. We create business opportunities and values for the

More information

Licensing system in Norway. Steinar Njå Norwegian Petroleum Directorate

Licensing system in Norway. Steinar Njå Norwegian Petroleum Directorate Licensing system in Norway Steinar Njå Norwegian Petroleum Directorate Licensing system in Norway Discretionary system The Government invites companies to apply for exclusive rights to petroleum activities

More information

Oslo Børs Holding ASA

Oslo Børs Holding ASA Oslo Børs Holding ASA 3rd Quarter 2007 25 October 2007 Overview Third quarter highlights Continuing high level of market activity Operating revenues: NOK 143.6 million (110.4) Operating profit: NOK 88.4

More information

PhD project description The use of TBM in future Norwegian infrastructure projects

PhD project description The use of TBM in future Norwegian infrastructure projects NTNU - The Norwegian University of Science and Technology PhD project description The use of TBM in future Norwegian infrastructure projects PhD candidate: Øyvind Dammyr Main supervisor: Professor Bjørn

More information

Third Quarter Report. Period Ended 30 September 2015

Third Quarter Report. Period Ended 30 September 2015 Third Quarter Report Period Ended 30 September 2015 Third quarter key points Selected financial information (IFRS unaudited figures) Amounts in USD million Income statement data Q3 2015 Q3 2014 Jan - Sep

More information

Third quarter results 2015

Third quarter results 2015 1 Third quarter results 2015 30 October 2015 Peter A. Ruzicka, President & CEO Improved performance in the third quarter 2.3% organic growth 1 15% EBIT (adj.) 2 growth in BCG 57% increase in EPS 2 1 Reported

More information

Rail Contractors Liability Insurance

Rail Contractors Liability Insurance Rail Contractors Liability Insurance (Please ensure that proposal is completed in full and is clear and legible) 1. Applicant Details Full Trading Name: (this should be name required in the policy) Address:

More information

Goliat Barrier Management

Goliat Barrier Management Goliat Barrier Management ESRA Norge; March 25, 2015 www.eninorge.com Eni: Ole Rekdal Safetec: Helene Ness Hansen PL 229 Goliat Location and Partnership License awarded in 1997 Present licensees Eni Norge

More information

Construction Services

Construction Services Construction Services Construction Turning innovative ideas into delivered solutions At Golder Associates we strive to be the most respected global company providing consulting, design, and construction

More information

Abstract. Introduction

Abstract. Introduction From Protective to Offensive Project Management Asbjørn Rolstadås, Professor, Norwegian University of Science and Technology Agnar Johansen, Senior Research Scientist, SINTEF Technology and Society Abstract

More information

Public Transport in the Oslo Region

Public Transport in the Oslo Region Public Transport in the Oslo Region CEO Bernt Reitan Jenssen,, Ruter As Welcome to Ruter Office location at Jernbanetorget Jernbanetorget,, Central Station Square Ruter is Public Transport Authority in

More information

EPIM LogisticsHub (ELH)

EPIM LogisticsHub (ELH) EPIM LogisticsHub (ELH) A common knowledgebase for tracking Cargo Carrying Units (CCUs) and equipment in the Norwegian Offshore Industry Dr. Thore Langeland Strategic Adviser, EPIM tla@epim.no +47 9095

More information

PRESS KIT IVAR AASEN DET NORSKE OLJESELSKAP ASA

PRESS KIT IVAR AASEN DET NORSKE OLJESELSKAP ASA PRESS KIT IVAR AASEN DET NORSKE OLJESELSKAP ASA Table of content 1. INTRODUCTION... 2 1.1. Purpose of document... 2 1.2. Det norske oljeselskap... 2 1.3. HSE... 2 2. ABOUT THE IVAR AASEN FIELD... 2 2.1.

More information

REPORT 1405. Bjørn G. Bergem, Arild Hervik and Oddmund Oterhals SUPPLIER EFFECTS ORMEN LANGE 2008-2012

REPORT 1405. Bjørn G. Bergem, Arild Hervik and Oddmund Oterhals SUPPLIER EFFECTS ORMEN LANGE 2008-2012 REPORT 1405 Bjørn G. Bergem, Arild Hervik and Oddmund Oterhals SUPPLIER EFFECTS ORMEN LANGE 2008-2012 Bjørn G. Bergem, Arild Hervik and Oddmund Oterhals Supplier effects Ormen Lange 2008 2012 Report 1405

More information

Company Overview. Chieti, May 7 th 2012

Company Overview. Chieti, May 7 th 2012 Chieti, May 7 th 2012 AGENDA 1 Toto Group Structure 2 Toto S.p.a. Costruzioni Generali: Overview 3 Business Interests 4 5 6 7 8 Toto s Strenght: Know How Toto s Technological Assets The Construction Business

More information

Norwegian (NAS) Q2 2007. Bjørn Kjos (CEO) Oslo, 19. July 2007

Norwegian (NAS) Q2 2007. Bjørn Kjos (CEO) Oslo, 19. July 2007 Norwegian (NAS) Q2 2007 Bjørn Kjos (CEO) Oslo, 19. July 2007 Strong revenue growth continues in Q2 07 1,019 MNOK in total revenue, 33 % growth since last year MNOK revenue 1 000 800 600 400 200 0 Q2 04

More information

Odfjell Drilling Ltd.

Odfjell Drilling Ltd. Odfjell Drilling Ltd. Report for the 3 rd quarter of 2015 This interim report is unaudited and has been prepared in accordance with IAS 34 Interim Financial Reporting. Key figures for the Group All figures

More information

Presentation. Results for the Hafslund Group 1st quarter 2002. Presentation to analysts Wednesday 15 May 2002

Presentation. Results for the Hafslund Group 1st quarter 2002. Presentation to analysts Wednesday 15 May 2002 Presentation Results for the Group 1st quarter 2002 Presentation to analysts Wednesday 15 May 2002 Contents: 1. Status for the group 2. Results 1st quarter 2002 3. Future challenges and strategy 2002.05.24

More information

Third quarter results 2014

Third quarter results 2014 Third quarter results 2014 Highlights Third quarter 2014 High operational activity H6 rig upgrade completed ahead of time Cooperation with KBR for Sverdrup Study awarded for Subsea on a Stick Order backlog

More information

The FIDIC Suite of Contracts

The FIDIC Suite of Contracts Less well know FIDIC contracts are also available such as the Turquoise Book for Dredging and Reclamation Works published in January 2006 and the White Book model services agreement published in October

More information

Role in the project (e.g. Prime Engineering Consultant or Contractor), and summary of professional Duties : Name Professional Duties Contract Awarded?

Role in the project (e.g. Prime Engineering Consultant or Contractor), and summary of professional Duties : Name Professional Duties Contract Awarded? PROPOSAL FORM FOR SINGLE PROJECT PROFESSIONAL INDEMNITY NOTE: THIS IS A PROPOSAL FOR A CLAIMS MADE POLICY Note : Please provide any necessary explanations or additional details by attachment to this Proposal

More information

Global Infrastruktur I AS

Global Infrastruktur I AS Kundeseminar, Felix konferansesenter 8. oktober 2015 2007 Etableringsår 2 928 Norske aksjonærer 2,8 mrd. NOK Markedsverdi av porteføljen 98 øre/aksje Totale utbetalinger 42 % Totalavkastning siden start

More information

Mini-guide for. Foreign businesses and employees. in connection with assignments in Norway or on the Norwegian continental shelf

Mini-guide for. Foreign businesses and employees. in connection with assignments in Norway or on the Norwegian continental shelf Mini-guide for Foreign businesses and employees in connection with assignments in Norway or on the Norwegian continental shelf Central Office - Foreign Tax Affairs (COFTA) January 2011 Foreign businesses

More information

Design and Build of Passenger Terminal Building North Extension At Macau International Airport (RFQ-198) Section 6 Bill of Quantities

Design and Build of Passenger Terminal Building North Extension At Macau International Airport (RFQ-198) Section 6 Bill of Quantities At Macau International Airport (RFQ-198) Section 6 Bill of Quantities Bill Nr. 1 Preliminaries Bill Nr. 1 PRELIMINARIES NOTES : (1) The work shall be done during day time and night time according to CAM/ADA

More information

Sri Lanka Accounting Standard -LKAS 11. Construction Contracts

Sri Lanka Accounting Standard -LKAS 11. Construction Contracts Sri Lanka Accounting Standard -LKAS 11 Construction Contracts -405- Sri Lanka Accounting Standard -LKAS 11 Construction Contracts Sri Lanka Accounting Standard LKAS 11 Construction Contracts is set out

More information

Why is Insurance Paramount in the Construction Arena"

Why is Insurance Paramount in the Construction Arena Why is Insurance Paramount in the Construction Arena" 4th EPMIF AN EIMS PRESENTATION Cas Hansa March 2009 Synopsis A A 'thumbnail' view of the scope of a typical Contractor's All Risks (projects works)

More information

International Accounting Standard 11 Construction Contracts

International Accounting Standard 11 Construction Contracts International Accounting Standard 11 Construction Contracts Objective The objective of this Standard is to prescribe the accounting treatment of revenue and costs associated with construction contracts.

More information

Nettpartner Group. Company Presentation

Nettpartner Group. Company Presentation Nettpartner Group Company Presentation Vision and Mission Nettpartner the company all others in the industry want to emulate! Nettpartner shall be a leading supplier of innovative solutions linked to the

More information

Accounting & Finance 2 0 1 5 S A L A R Y G U I D E

Accounting & Finance 2 0 1 5 S A L A R Y G U I D E Accounting & Finance AED (Gross monthly salaries excluding bonuses and education allowance, if applicable) Chief Financial Officer 75,000 55,000 90,000 Chief Accountant 18,000 14,000 22,000 Commercial

More information

ABGSC Improved revenues and increased profits

ABGSC Improved revenues and increased profits Press Release ABG Sundal Collier First Quarter 2010 - Report to Shareholders ABGSC Improved revenues and increased profits Oslo, 29 April 2010 The outlook for the world economy and our firm has brightened

More information

Engelsk. Norwegian Food and Allied Workers Union. Welcome to NNN

Engelsk. Norwegian Food and Allied Workers Union. Welcome to NNN Norwegian Food and Allied Workers Union Engelsk Welcome to NNN As a member, your interests will be protected to the greatest degree possible, particularly in relation to pay and working conditions. In

More information

How To Make Money From The Stock Market In Nok

How To Make Money From The Stock Market In Nok SKAGEN Vekst Status as of 30-09-05 Why SKAGEN Vekst? Balanced portfolio adapted to Norwegian investors Better geographic spread than pure Norwegian fund Better industry balance than a Norwegian fund =

More information

Nordic Algae Network Value chain development and commercialization of algae in Norway Norges Vel s approach, Ås 16.11.12 Eva-Mari Rahkola

Nordic Algae Network Value chain development and commercialization of algae in Norway Norges Vel s approach, Ås 16.11.12 Eva-Mari Rahkola Nordic Algae Network Value chain development and commercialization of algae in Norway Norges Vel s approach, Ås 16.11.12 Eva-Mari Rahkola 1 The Royal Norwegian Society for Development (Norges Vel) Norges

More information

Can Norway $ave the rainforests of the world?

Can Norway $ave the rainforests of the world? Can Norway $ave the rainforests of the world? Kan Norge REDDe verdens regnskog? Arild Angelsen Professor, Dept. of Economics & Resource Management (IØR), Norwegian University of Life Sciences (UMB), Ås,

More information

Task Order Manager. Project Planning, Engineering, Architecture service contract with experience in passenger rail or other modes, and

Task Order Manager. Project Planning, Engineering, Architecture service contract with experience in passenger rail or other modes, and a) Offerors shall provide resumes for their Key Personnel, as identified below. The page count for each resume shall not exceed three (3) pages. Preferred professional qualifications of key personnel are

More information

Application of IEC 61508 and IEC 61511 in the Norwegian Petroleum Industry

Application of IEC 61508 and IEC 61511 in the Norwegian Petroleum Industry Application of IEC 61508 and IEC 61511 in the Norwegian Petroleum Industry Lars Bodsberg Research Director SINTEF, Trondheim, Norway lars.bodsberg@sintef.no http://www.sintef.no/ 30 November 2005 Delft,

More information

Tunnelling and underground works in PPC hydro projects: Contracting practices & construction management Ioannis Thanopoulos Dr.

Tunnelling and underground works in PPC hydro projects: Contracting practices & construction management Ioannis Thanopoulos Dr. Tunnelling and underground works in PPC hydro projects: Contracting practices & construction management Ioannis Thanopoulos Dr. Civil Engineer Public Power Corporation, Greece Public Power Corporation

More information

Hordaland på børs 19 August 2010. Bergen Group. prepared for international growth. Pål Engebretsen, CEO

Hordaland på børs 19 August 2010. Bergen Group. prepared for international growth. Pål Engebretsen, CEO Hordaland på børs 19 August 2010 prepared for international growth Pål Engebretsen, CEO DISCLAIMER This quarter Presentation includes and is based, inter alia, on forward-looking information and statements

More information

COWI TANZANIA LTD WELCOME TO OUR WORLD OF CONSULTANCY WITHIN ENGINEERING, ENVIRONMENT AND ECONOMICS

COWI TANZANIA LTD WELCOME TO OUR WORLD OF CONSULTANCY WITHIN ENGINEERING, ENVIRONMENT AND ECONOMICS COWI TANZANIA LTD WELCOME TO OUR WORLD OF CONSULTANCY WITHIN ENGINEERING, ENVIRONMENT AND ECONOMICS COWI TANZANIA CORE SERVICE LINES Development assistance Urban and regional development Environmental

More information

Oslo Børs Holding ASA fourth quarter 2004

Oslo Børs Holding ASA fourth quarter 2004 Oslo Børs Holding ASA fourth quarter 24 Fourth quarter highlights: Continuing very high level of market activity Operating revenues NOK 7.4m (62.2m) Profit NOK 2.5m (1.9m) Earnings per share NOK 4.1 (2.19)

More information

Risk Management and Insurance For U.S. Offshore Wind Projects. Jeff Kehne Sept. 14, 2011

Risk Management and Insurance For U.S. Offshore Wind Projects. Jeff Kehne Sept. 14, 2011 Risk Management and Insurance For U.S. Offshore Wind Projects Jeff Kehne U.S. Offshore Wind Project Risk Profile Character and Incidence of Risks Change as Projects Progress Leasing and Permitting Owners

More information

DNO ASA Corporate Presentation and Update

DNO ASA Corporate Presentation and Update DNO ASA Corporate Presentation and Update Haakon Sandborg, CFO Swedbank Nordic Energy Summit 19 March 2015 Oslo, Norway DNO at a glance Norwegian oil and gas operator focused on the Middle East and North

More information

Empirics of the Oslo Stock Exchange. Basic, descriptive, results.

Empirics of the Oslo Stock Exchange. Basic, descriptive, results. Empirics of the Oslo Stock Exchange. Basic, descriptive, results. Bernt Arne Ødegaard University of Stavanger and Norges Bank Mar 2011 We give some basic empirical characteristics of the Oslo Stock Exchange

More information

Construction Contracts

Construction Contracts STATUTORY BOARD FINANCIAL REPORTING STANDARD SB-FRS 11 Construction Contracts This version of SB-FRS 11 does not include amendments that are effective for annual periods beginning after 1 January 2015.

More information

Applicability / Objective

Applicability / Objective By Rakesh Agarwal Applicability / Objective APPLICABILITY: applicable to all contracts entered into on or after 1-4-2003 and is mandatory in nature from that date. Based on AS 7 (Construction Contracts)

More information

Hydroelectric Power Plant - Los Cóndores. Santiago, April 2014

Hydroelectric Power Plant - Los Cóndores. Santiago, April 2014 Hydroelectric Power Plant - Los Cóndores Santiago, April 2014 Introduction Los Cóndores, a large hydro project of 150 MW with water flow regulation using the existing water reservoir of the Embalse Laguna

More information