Flux Group signs another significant Johan Sverdrup-contract

Photo by Statoil ASA
0094661 - johan sverdrup field centre - photo statoil - statoil (1)
December 2015
Stavanger 10 December 2015: K2JV ANS, a joint venture between Kellog Brown & Root (Norway) AS and Kværner Stord AS, has awarded Flux Group’s subsidiary Norwegian Piping a contract for provision of pipes, fittings, flanges and special items to the utility and living quarter platform on the Johan Sverdrup-field. The contract has an initial value of about NOK 40 million. Flux Group companies have to date in 2015 secured Johan Sverdrup-related contracts worth more than NOK 120 million.
Flux Group was established in 2014 and has grown through three acquisitions including Norwegian Piping in October 2014. In May 2015, Statoil awarded a contract to Flux Vest Ventil for delivery of valves to the Johan Sverdrup project and with this award Flux Group significantly increases its scope and deliveries to this major offshore project.
«The contracts validates the strategy behind establishing Flux Group and strengthens our position as an attractive partner to leading companies on the Norwegian continental shelf », says Ådne Grødem, CEO at Flux Group.
Norwegian Piping will provide pipe, fittings, flanges and special items to the utility and living quarter (ULQ) platform for the Johan Sverdrup field. Kellog Brown & Root (Norway) AS and Kværner Stord AS were awarded the main fabrication contract in June 2015. Norwegian Piping’s deliveries commence during the summer next year. First oil from the Johan Sverdrup-field is planned for 2019.
Norwegian Piping is based at Sotra, near Bergen, with a branch office in Busan, South Korea. The company has established a strong position as a supplier of high quality pipes and related components to the oil- and gas industry, shipyards and land-based industry.  Norwegian Piping cooperates closely with leading European pipe manufacturers and is actively engaged in NORSOK M-650 qualification processes.
«Norwegian Piping’s leading position within the pipe-market is fortified by the Johan Sverdrup contract. We have grown significantly in South Korea over recent years. We are however very pleased and motivated by having success at home and to be able to work on a mega-project such as Johan Sverdrup », says Gert Chr. Strindberg, Managing Director at Norwegian Piping.
For further information:
Ådne Grødem, group CEO, Flux Group, tel: +47 907 53 999
Gert Chr. Strindberg, Managing Director Flux Norwegian Piping, tel: +47 900 80 501
Flux Group in brief
Flux Group was established by HitecVision in the spring of 2014 with the ambition of building a strong international oil service group. Its build-up and expansion will be pursued through both acquisitions and organic growth. The group will focus on delivering various types of oil and gas related equipment and components to customers who give great emphasis to safety and quality. Flux Group has its head office in Stavanger and has a presence in Norway, Italy and South Korea. Total Group revenues in 2014 were approximately NOK 700 million.

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