KBR Subsidiary GVA Signs License Agreement for Fabrication of Tailor-Made Drilling Unit

HOUSTON--(BUSINESS WIRE)--KBR (NYSE: KBR) announced today that its subsidiary GVA has signed a license agreement with Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME) in Korea for the fabrication of its GVA 4000NCS, CatD Drilling Unit. The concept for the unit is tailor-made by the industry for Statoil primarily for drilling production and well completion in mature fields.

“We are very pleased that Statoil has selected our GVA design for its CatD development on the NCS”

Songa Offshore, the drilling contractor, has ordered four GVA 4000NCS units to be fabricated at DSME to operate in the North Sea Norwegian Continental Shelf (NCS) for Statoil. The workhorse CatD is designed by GVA's experienced engineering team in Gothenburg, Sweden, and is developed together with operator and industry partners to meet a lower cost of drilling, well completion and to operate safely and efficiently.

The unit is based on the proven GVA7500 design and is able to operate at water depths up to 4,265 feet (1,300 meters) and drill wells down to 27,887 feet (8,500 meters). It is a tailor-made, semi-submersible rig for mid-water segments on the NCS, but is also applicable in other regions. The rig concept can easily be converted for work in deepwater, high-pressure, high-temperature operations as well as arctic regions.

“We are very pleased that Statoil has selected our GVA design for its CatD development on the NCS,” said Mats Lindén, managing director, GVA. “This design is based on the proven GVA7500, which has been developed and improved upon after many years of operational experience with GVA Drilling Units in service across the world, from the North Sea to the Gulf of Mexico.”

GVA, a wholly-owned subsidiary of KBR, is a marine and offshore engineering and technology company with more than 40 years of experience in the design and construction of floating offshore units, where the key areas are drilling, production and accommodation units. More than 50 percent of all newly-built, semi-submersible production and accommodation units worldwide are designed by GVA.

For more information, visit www.gvac.se.

KBR is a global engineering, construction and services company supporting the energy, hydrocarbon, government services, minerals, civil infrastructure, power, industrial, and commercial markets. For more information, visit www.kbr.com.

Editor’s Notes:

1. GVA, headquartered in Gothenburg, Sweden, is a KBR company.

2. GVA is a world leader in the design of semi-submersibles, FPSOs and other large floating structures. GVA has successfully delivered over 100 projects in more than 20 countries.

3. GVA has its origins in Gothenburg’s Götaverken Arendal Shipyard with roots going back more than 100 years.

4. GVA has a large number of specialists in conceptual design, naval architecture, structural design and marine and drilling systems. The company has all technical disciplines in-house.

5. GVA’s strong client base includes many of the world’s largest oil and gas companies.