EUROPE

Kvaerner soul searches after Sverdrup loss

STATOIL's decision to award a NOK8 billion ($A1.34 billion) contract to Swedish firm Aibel for the construction of the deck for the drilling platform on the Johan Sverdrup field in the North Sea has had an immediate impact with rival bidder Kvaerner announcing it will cut even more jobs.

Haydn Black

Kvaerner soul searches after Sverdrup loss

Kvaerner had been hoping to win the contract, once of the biggest associated with Johan Sverdrup, and in failing to secure the tender it has been forced to implement further cost reductions. "The loss...

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