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Rahul Wadke

Main thrust would be oil and gas business

Mumbai , Nov. 28

Aker Kvaerner Group of Norway expects a 30 per cent growth in its Indian business in the oil and gas sector.

The company operates in India through its subsidiary — Aker Kvaerner Powergas Pvt Ltd.

Currently the oil and gas business contributes 20 per cent to the Aker Kvaerner Powergas' turnover of Rs 200 crore.

In India, the company provides engineering, procurement and construction services for oil and gas, refining, petrochemicals, metals, minerals, and chemicals sector.

New growth avenues

Dr S. Rama Iyer, Executive Chairman, Aker Kvaerner Powergas, told Business Line that the main thrust of the company would be oil and gas business.

The company has identified sub-sea engineering services especially for deepwater oil exploration as the new avenue for growth.

Sub-sea engineering involves setting structures on the seabed for oil and gas exploration. Given the new impetus in sub-sea engineering, the company has set up a dedicated design centre for sub-sea projects in Pune. More than 200 people are employed in the Pune centre and another 100 would be added by next year, he said.

Dr Iyer said, that the company is also offering project management consultancy services. The company is bidding for project management consultancy for a six-million-tonne refinery in West Asia, Dr Iyer said.

"Five years ago we did not have any expertise in the project management area; today we are bidding for such large projects," Dr Iyer said.

Reliance Industries Ltd has awarded Aker Kvaerner Group, a $400-million EPC contract to deliver an 18 well sub-sea production system for the deepwater block KG-D6, off the eastern coast.

Aker Kvaerner Powergas would be undertaking, onshore designing for the project, Dr Iyer said.

The company is also undertaking entire engineering designing for a major copper smelter plant in Zambia for which Rs 200 crore worth of equipments would be sourced from India, Dr Iyer said.

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