People And Values - Aker Solutions

People and 

values 

Aker Kvaerner 2003

Best results in five years 

Group: 

Amounts in USD millions 2002 

Operating revenues 5 449 

Operating profit before exc. items 53 

Order intake 5 257 

Order reserve 4 968 

Number of employees 

(excl. agency personnel) 32 863 

Oil & Gas: 






Shipbuilding 


(excl. agency personnel) Leading player 15 747 

Figures include: Field Development Europe, 

MMO Europe, Oil, Gas & Process International 

and Subsea & Oilfield Products 

Engineering & Construction: 



Operating loss before exc. items (74) 



Number of employees Power 

(excl. agency personnel) Supplier to utilities 8 490 

But our success is measured not only by what we deliver. 

How we deliver is also important. That relates to who we 

Chemicals & are Polymers and what concerns Metals us, both as an organisation and 

Leading player as individuals. Cost efficient technologies 

Pulping 

World wide supplier 

Global 

and local 

Aker Kvaerner is a global player with a local presence 

in virtually all parts of the world. Our people execute 

complex projects, develop technology, deliver products 

and put together integrated solutions. Our customers are 

demanding and quality-conscious, and are among the 

world leaders in their respective industries. 

We have sought to convey our basic values and attitudes 

through this publication. We want to explain who we are, 

what we stand for, how we work and how we relate to our 

customers, our people and society as a whole. 

Put simply, we believe this is about building trust. 

Helge Lund 

President and CEO 

Pharmaceutical 

Global service provider 

Figures include: Refining and petrochemicals, 

Pharmaceuticals, Mining and metals, Power 

generation, Environmental protection and 

Chemical pulp 

Shipbuilding: 




Order intake 717 



(excl. agency personnel) 5 326

3 ■ Aker Kvaerner 2003 

An efficient 

network 

Aker Kvaerner is organised in seven business 

areas – four in Oil & Gas, two in Engineering 

& Construction and one in Shipbuilding. 

Aker Kvaerner is a closely integrated group which 

spans the world. Its organisational structure 

ensures direct and efficient follow-up of projects, 

customer relations and business areas. 

Projects are normally executed with resources 

drawn from several business units. Global initiatives, 

task forces and networks strengthen the transfer of 

experience and expertise from the group’s diverse 

operations within its seven business areas. 

Canada: 

Burlington ■ 

Calgary ■ 

Edmonton ■ 

Halifax ■ 

Montreal ■ ■ 

St. Johns ■ 

Toronto ■ ■ 

Vancouver ■ ■ ■ ■ ■ 

USA: 

Annapolis ■ 

Bridgewater ■ 

Charlotte ■ ■ 

Charleston ■ 

Fairmont ■ 

Houston ■ ■ ■ ■ ■ 

Louisville ■ 

Mobile ■ 

Mt. Laurel ■ 

New Orleans ■ 

Philadelphia ■ 

Pittsburgh ■ ■ 

Salt Lake City ■ 

San Ramon ■ ■ 

Tucson ■ ■ 

Washington ■ ■ 

Williamsport ■ ■ 

Puerto 

Rico: ■ 

Brazil: 

Curitiba ■ ■ ■ 

Macae ■ 

Rio ■ 

Chile: 

Santiago ■ 

■ Oil & Gas 

■ Refining and petrochemicals 

■ Pharmaceuticals 

■ Mining and metals 

■ Power generation 

■ Environmental protection 

■ Chemical Pulp 

■ Shipbuilding

United 

Kingdom: 

Aberdeen ■ 

Buckhaven ■ 

Crick ■ 

London 

Maidenhead ■ 

Solent ■ ■ 

St Leonards-on-Sea ■ 

Teeside ■ ■ ■ ■ ■ ■ 

Warrington ■ ■ 

Ireland: ■ 

Denmark: ■ 

The Netherlands: 

Maastricht ■ ■ ■ 

Zoetermeer ■ ■ ■ Belgium: 

Antwerp ■ ■ ■ 

France: 

St Germain ■ ■ 

Spain: 

Barcelona ■ ■ 

Norway: 

Arendal ■ 

Bergen ■ 

Egersund ■ 

Høyanger ■ 

Karmøy ■ 

Kristiansand ■ 

Kristiansund ■ 

Mosjøen ■ 

Moss ■ 

Nigeria: 

Lagos ■ 

Odda ■ 

Oslo ■ 

Stavanger ■ 

Stjørdal ■ 

Stord ■ 

Tranby ■ 

Trondheim ■ 

Verdal ■ 

Ågotnes ■ 

Sweden: 

Gothenburg ■ ■ 

Karlstad ■ 

Sävsjö ■ 

Örnskiöldsvik ■ ■ 

Poland: ■ ■ 

Austria: 

Linz ■ ■ 

Finland: 

Helsinki ■ 

Karhula ■ 

Lapua ■ ■ 

Piikkio ■ 

Tampere ■ ■ 

Turku ■ 

Ulvila ■ 

Vantaa ■ 

Germany: 

Cologne ■ ■ ■ 

Rostock – Warnow Yard ■ 

United Arab 

Emirates: 

Dubai ■ 

Saudi Arabia: 

Damman ■ 

Azerbaijan: 

Baku ■ 

Iran: 

Teheran ■ 

Russia: 

Magadan ■ 

Moscow ■ ■ 

India: 

Mumbai* ■ ■ ■ ■ ■ 

Pune ■ ■ 

Thailand: 

Bangkok ■ ■ ■ 

Malaysia: 

Kuala Lumpur ■ ■ ■ 

China: 

Beijing ■ ■ ■ ■ ■ 

Shanghai ■ ■ 

Singapore: ■ ■ ■ ■ ■ ■ 

Japan: 

Tokyo ■ 

Philippines: 

Manila ■ ■ 

Angola: 

Luanda ■ 

Indonesia: 

Jakarta ■ ■ ■ ■ 

South-Africa: 

Durban ■ ■ 

Johannesburg ■ 

Australia: 

Brisbane ■ ■ ■ 

Melbourne ■ ■ ■ 

Perth ■ ■ ■ 

* Aker Kvaerner Centre for 

Detailed Engineering

Aker Kvaerner 2003 ■ 

5 

Strong presence in exciting markets 

■ Oil & Gas 

Supplier along the whole value 

chain from reservoir to production, 

removal and re-use of fixed and 

floating installations. 

■ Refining and petrochemicals 

Supplier along the whole value 

chain from oil and gas production 

to refining and petrochemical processing. 

■ Pharmaceuticals 

Supplier of services from preliminary 

studies to construction, 

commissioning and validation. 

■ Mining and metals 

Supplier of services from preliminary 

studies to turnkey plants 

for processing various metals and 

minerals. 

■ Power generation 

Supplier of services from conceptual 

studies to gas-fired power stations 

and cost-effective, environment-friendly 

energy generation for 

power-intensive industries. 

■ Environmental protection 


studies to total solutions for 

water and sewage treatment, 

waste handling, energy recovery 

and processing of radioactive 

waste. 

■ Chemical Pulp 


studies to environmentlyfriendly 

chemical pulp mills. 

Deliveries include fiberlines, 

recovery- and power boilers, 

emission control systems and 

process technologies. 

■ Shipbuilding 


studies to construction of special 

technology ships such as 

cruise ships, passenger ferries, 

liquefied natural gas carriers, ice 

breakers and container ships. 

Employees by region 2002 1) Revenues by region 2002 

17 % ■ North America 

2% ■ South and Central America 

6% ■ Asia 

12% ■ UK 

27% ■ European Union (excl. UK) 

2% ■ India 

1% ■ Australia 

31% ■ Norway 

2% ■ Other 

27 % ■ Norway 

11% ■ UK 

15% ■ European Union (excl. UK) 

33% ■ USA/Canada 

6% ■ Asia 

8% ■ Rest of the world 

1) Including agency personnel and 

employees in associated companies.


Photo: Bård Gudim


7 

On the right track 

making good speed 

Operations at Aker Kvaerner are 

not only a matter of delivering 

high-quality solutions, products 

and technology. The Group is also 

concerned over how such deliveries 

are made. 

So great importance is attached 

to the work of forging a common 

culture which creates lasting values 

and builds trust among customers, 

employees, shareholders 

and the community at large. 

“Earning money is basic for all 

our companies, but not at the 

expense of health, safety and 

environmental considerations,” 

says Helge Lund, Group president 

and chief executive of Aker 

Kvaerner. 

“Any other approach would be 

irresponsible. Safety and profitable 

operation are essential 

requirements for providing secure 

jobs. Only when the business 

shows a profit it will be possible to 

pursue industrial development and 

accept social responsibility.” 

These observations exemplify 

Aker Kvaerner’s basic attitudes. 

“People who don’t live up to the 

culture we’re building fail the 

Group and our common future,” 

Mr Lund adds. 

“We can’t accept that, so 

improvement is the only option for 

such people if they want to stay 

with us. We accordingly attach 

crucial importance to developing 

our people.” 

Important changes have been 

implemented by Aker Kvaerner 

over the past year to strengthen 

Helge Lund Group president 

and CEO of Aker Kvaerner. 

Aker Kvaerner achieved its best results for five years in 2002, 

and has returned to a sound financial position. The transition 

to a more customer-focused, vigorous and dynamic industrial 

group is well under way. 

the Group. A set of values and a 

leadership approach have been 

developed and quickly made a 

clear mark on the organisation. At 

the same time, efficiency has been 

improved, the number of management 

levels reduced, businesses 

merged and problem activities 

cleared up. 

“We’ve become more dynamic 

and enhanced our ability to deliver 

results to the customer,” Mr Lund 

notes. “We see a growing number 

of examples which confirm that. 

Our values and leadership approach 

are clear and specific. They 

give us the foundation we need. 

“Our leaders know what we 

expect and that long-term results 

are not only a matter of putting 

enough on the bottom line but also 

how this is done. We cannot allow 

our customers to feel doubt about 

choosing us again.” 

Hallmark 

Quality will be the hallmark of 

technology, products, solutions 

and services delivered by Aker 

Kvaerner. The Group has developed 

a project execution model on 

the basis of its broad expertise 

and experience. This embraces 

the whole value chain for projects 

from identifying the best technology 

and solutions to engineering, 

fabrication and installation. All 

phases of a project could pose 

risks which have to be managed 

correctly. 

“Our leaders must be hands-on 

in running projects and conduct 

an open dialogue with the customer,” 

emphasises Mr Lund. “All 

the challenges must be identified 

at the earliest possible stage, and 

followed up. 

“Responsibilities have to be 

unambiguously allocated, and the 

right decisions taken quickly. 

That’s the only way to prevent 

minor challenges developing into 

big problems. So we’re refining 

our expertise in project execution 

to ensure value creation for the 

customer.” 

A focus on customers and an 

entrepreneurial spirit are key components 

in the Group’s values. 

Delivering quality means converting 

these values into action for the 

customer and the community at 

large. This yields lasting value creation 

as well as interesting and 

meaningful jobs for our people. 

“It’s not enough to offer competitive 

technology and solutions or 

solid references,” Mr Lund notes. 

“We must give that little extra 

which shows we always stretch 

ourselves farther”. 

“We must know what we as a 

group represent in terms of opportunities 

for our customers and their 

communities. That’s a question of 

how we view the customer. We 

have to demonstrate that we are 

strong enough to execute a project 

from the first moment contact 

is established – long before the 

contract has been secured. 

Ensuring that our values are 

reflected in our actions is a clear 

management responsibility.” 

Crucial 

Developing the expertise of our 

people is crucial in building a 

culture which delivers both quality 

and resources. 

Aker Kvaerner has come up with 

its own tools to measure support 

for its values and chart the potential 

for improvement. Our people 

are developed through challenging 

assignments, guidance and 

training. Motivated and highlytrained 

employees are crucial for 

winning new contracts. 

“There are no second awards in 

our world,” says Mr Lund. “We 

can’t assume that we’re the best – 

we’ve got to prove it every time. 

That calls for a special enthusiasm 

and ability to understand customer 

needs, and for the ability to put 

together the best team. Our global 

resources put us in a strong position, 

and we’re working systematically 

to develop these even further.” 

He has been inspired by the 

positive attitudes displayed among 

Aker Kvaerner people, and perceives 

the mood in the Group to 

be good. 

“I’ve spent a lot of time at our 

various operations in Asia, the 

Americas and Europe. Such visits 

always give me important feedback, 

and I’ve found a commitment 

to thinking and acting in new 

ways. It’s precisely the ability to 

change and improve the Group 

which allows us to create a leading 

industrial enterprise.” 

Looking ahead, Mr Lund 

emphasises that Aker Kvaerner 

will have a long-term approach. 

“We apply an infinite perspective 

to our business. So we attach 

crucial importance to responsible 

behaviour towards our people, 

customers, shareholders and society 

as a whole. At the same time, 

we must always be ready to adapt 

to secure the best prospects. 

The feedback we get increasingly 

describes us a reliable and 

dynamic group which is able to 

deliver. We’re on the right track – 

and making good speed.”


Quality 

creates lasting value 

Complex and demanding projects are executed world-wide by Aker 

Kvaerner. The value involved is substantial. This means that high quality 

is crucial. So is delivery on schedule, to budget and to contract. Quality 

at every level and in all phases is the key to good project execution. 

Aker Kvaerner has for many years 

demonstrated that it can develop, 

produce and deliver cutting-edge 

technology, concepts and solutions 

to various industries. Its 

expertise and experience in combining 

the various components of 

a project into a unified system 

guarantees a good turnkey delivery. 

This ability represents a competitive 

advantage which will now 

be further refined. All the Group’s 

expertise and experience is being 

brought together in an integrated 

model for project execution. The 

aim is to build a best practice 

which ensures high quality at 

every stage of the value chain. 

The value created by Aker 

Kvaerner is measured every day. 

The results it achieves financially, 

in health, safety and the environment, 

in project milestones and in 

customer satisfaction show how 

much the Group has succeeded. 

Detailed planning 

The key to successful project execution 

lies in detailed planning 

and risk management. A clear and 

detailed agreement is shaped in 

close cooperation with customers 

and other parties involved, covering 

what will be delivered, how, 

when and at what price. Having a 

detailed schedule ensures safe 

and efficient work processes, and 

predictability for both customer 

and supplier. 

When Aker Kvaerner tenders for 

a contract, therefore, the crucial 

requirement is to ensure a realistic 

framework for its bid. A good 

and open collaboration with the 

customer is essential in ensuring 

that projects are well executed. 

A clearly defined engineering, procurement 

and construction contract 

ensures realistic frame conditions 

and the best basis for good 

project execution. 

Turnkey 

Aker Kvaerner is a turnkey supplier. 

This means that customers, 

sub-contractors and other players 

can relate to a single lead partner. 

Subsequently, this reduces the 

uncertainty which arises at the 

interfaces between the various 

suppliers during a project. With 

Aker Kvaerner as contractor, the 

customer is assured that the job of 

identifying risk factors in all 

phases of the project will be tackled 

systematically. 

Cost control, good safety, the 

right quality and the ability to reach 

milestones on time call for close follow-up 

at every level when executing 

a project. All changes to the 

schedule and contract specifications 

can affect costs, quality and 

execution time. Open communication 

is therefore crucial in ensuring 

the best possible response to any 

challenges which arise.

Foto: Norsk Hydro ASA 


9 

Grane: Lifting the quarters 

module into position on the North 

Sea field in early May 2003. Aker 

Kvaerner has delivered the jacket 

and all the modules for Norsk 

Hydro’s integrated production, 

drilling and quarters platform. The 

Group passed every milestone on 

schedule, to the right quality 

standards and below budget in 

executing a contract worth NOK 

3.5 billion. 

Pharmaceuticals: Aker Kvaerner 

has the expertise and experience 

needed to solve the challenges 

facing its customers in developing 

and building advanced 

biotechnology and pharmaceutical 

factories. 

End-product focus: Commercial awareness, hands-on management, transparency 

Feasibility 

& concept 

System 

definition 

Detailing & 

fabrication 

Assembly/ 

erection 

System 

completion 

Tender & kick-off 

Execution 

Systematic 

project execution 

Norsk Hydro’s Grane project in the Norwegian North Sea represents one of the most 

successful integrated field developments ever implemented. Aker Kvaerner’s expertise and 

experience with executing turnkey projects ensured that all milestones were passed on time, 

with good HSE results. Hydro saved around NOK 1 billion on its original budget. Some of the 

project's experiences are presented here. 

Hands-on management at 

all levels – in every phase 

Clear leadership and divisions of 

responsibility for competent personnel 

at all levels takes care of 

HSE, quality, economics and 

progress. Management must 

have a clear strategy for execution, 

and contingency plans for 

handling changes. 

Good planning 

The concept must be developed 

to solve relevant technological 

challenges in an efficient manner 

and to fulfil financial expectations 

for the project. 

Submitting a good bid lays a 

sound basis for detailed budgeting 

and cost control throughout 

the project. 

Systematic execution 

Continuous analysis of the project’s 

social, technological, economic, 

fabrication and logistical 

challenges ensure that all risks 

are taken fully into account. 

Detailed planning with clearly 

defined phases and milestones 

provide predictability for customers 

and society as a whole. 

Quantifying all elements in a 

project secures an overall view 

and continuous control. Tools for 

systematic supervision ensure 

that the delivery meets the 

required quality, and that progress 

accords with the original 

schedule. 

Relationship building 

Open and direct communication 

with the customer, sub-contractors 

and the wider community 

builds trust and ensure good 

relations throughout the life of 

the project. Experience is systematically 

utilised to ensure 

continuous development of 

employees and improvement of 

deliveries, so that customers and 

society share in Aker Kvaerner’s 

progress as a supplier.


Zero injuries 

– the only acceptable level 

Avoiding all personal injuries is the only goal which Aker Kvaerner 

can accept. Every injury and accident can be prevented. 

The Aker Kvaerner HSE culture 

supports and encourages the principle 

that every injury and accident 

is preventable. This principle 

is maintained by continuously 

striving to safeguard its employees 

by providing a workplace free of 

recognised hazards. In order for it 

to succeed, the zero-injury vision 

necessitates a strong management 

commitment, effective HSE 

training for all employees, and a 

pro-active HSE programme integrated 

in all its actions and activities. 

An injury-free work culture is 

the ultimate result of gaining and 

sustaining maximum employee 

involvement in HSE -related activities 

and programmes. 

Aker Kvaerner promotes the 

concept that a successful HSE 

culture requires focus on people, 

assets and systems. Within Aker 

Kvaerner operations, personnel 

and assets are effectively managed, 

trained and developed, 

while systems are studied and 

analysed to identify potential risks 

and appropriate mitigation measures 

to be incorporated. 

A successful HSE programme 

must integrate a balance of both 

pro-active and reactive actions and 

activities. Proactive activities 

include sound policies and procedures, 

systematic follow-up, training, 

personnel development, incentive 

programmes, employee 

involvement and assessments, 

while reactive actions include incident 

and accident investigations. 

Lessons learned from successful 

programmes and ideas, as well as 

from near-miss incidents, accidents 

and injury investigations are an 

essential element for achieving and 

maintaining the zero injury vision. 

Three million hours without 

a lost-time incident (LTI) 

The core of the Aker Kvaerner 

HSE Management System supports 

every employee clearly 

understands and accepts their 

roles and responsibility for safety, 

health and the environment, and 

being actively involved. Giving 

HSE a top level priority at project 

commencement invariably 

achieves positive project and HSE 

performance results. 

Aker Kvaerner’s experience 

from the Tintaya copper oxide 

project, an Andean development 

in Peru, is an excellent example of 

how this philosophy was applied. 

The integration of HSE in risk 

assessments, plans, programmes, 

training and contracts with subsuppliers 

allowed Aker Kvaerner to 

successfully pave the road to 

achieving and maintaining the 

zero injury vision. 

Its contract with BHP-Billiton 

encompassed engineering, procurement, 

construction management, 

assembly and start-up of a 

complex industrial plant. The plant 

is located approximately 260 kilometres 

from Arequipa and at an 

altitude in excess of 4,000 metres 

above sea level. Temperatures at 

the plant fell to -14°C, along with 

sleet, snow, floods and a six-hour 

bus ride over muddy mountainous 

roads, making logistical arrangements 

very challenging. 

The key to excellent HSE performance 

results for the project 

can be captured in comprehensive 

35 

30 

25 

20 

15 

10 

5 

0 

Lost-time injuries 

Number of accidents per million working hours 

■ E&C ■ Oil & Gas ■ Pulp & Paper ■ Shipbuilding 

32 

17 

4 

2 

1999 

28 

23 

4 

1 

2000 

HSE programmes, training, and 

the continuous priority placed on 

HSE, coupled with comprehensive 

monitoring throughout the project 

duration. The success of the 

Tintaya project is also reflected 

within other, more recent Aker 

Kvaerner projects. 

Safety Awards for 

Nuclear Projects 

Aker Kvaerner, in partnership with 

BNFL, has received a Royal 

Society for the Prevention of 

Accidents (ROSPA) Award for 

Occupational Safety for its work at 

the Sellafield site in Cumbria, UK 

during 2002. 

This complements a similar 

ROSPA Award received by Aker 

Kvaerner at Sellafield in 2001. 

Kvaerner Masa Yards 

Enhances HSE Performance 

The occurrence of fire can be a 

most devastating incident when 

building a cruise liner. It obviously 

30 

13 

4 

0 

2001 

20 

11 

3 

1 

2002 

threatens the health and safety of 

employees and contractors and 

major assets are at stake. Together 

with Kvaerner Masa-Yards, the 

RCCL cruise company has implemented 

changes which ensure a 

significant enhancement in safety 

design at the shipbuilding yard. 

When reviewing the project 

design, all parts of the production 

process were analysed for potential 

risks. As a result of the assessment, 

the cruise liner’s own firefighting 

system is now installed as 

early as possible. Additionally, 

subcontractors are now required 

to use fire-retardant packaging, 

and a special monitoring system 

has been adopted and a greater 

emphasis on good housekeeping 

has also proven to boost overall 

productivity. Good communications 

with the customer and a 

strong emphasis on safety were 

crucial in achieving excellent HSE 

performance on this project.

Aker Kvaerner 2003 ■ 11 

Safer marine operations 

The challenges from working and 

operating in the North Sea have 

proven most valuable from an 

experience standpoint. Seafaring 

skills alone are not enough to execute 

marine operations safely, as 

HSE must be integrated in the 

operations when planning assignments 

to ensure effective and efficient 

results. Aker Marine 

Contractors has recently developed 

a globally recommended 

practice for marine operations and 

subsea installations. Based on 

experience from Det Norske 

Veritas (DNV), Statoil and Norsk 

Hydro, the standard established 

integrates with DNV’s rules for 

executing marine operations. 

Guidelines and recommendations 

developed for these work 

processes ensure acceptable HSE 

and risk management/mitigation. 

The Aker Kvaerner corporate 

vision of zero injuries is derived 

from this collaboration, as well as 

from a focus on continuous HSE 

and process improvement. A special 

risk management plan has 

been developed to describe, communicate 

and document the targets, 

responsibilities and activities 

relating to risk assessments and 

analysis. 

Good examples, the basis for 

experience transfer and continued 

improvement 

In addition to the cases cited here, selected milestones for lost-time 

injuries illustrate the work being done to improve the Group’s health 

and safety results: 

■ Five million working hours without lost-time injuries in various 

Chinese construction projects 

■ Award from BP to MMO UK Offshore for one million working hours 

without lost-time injuries 

■ One million working hours without lost-time injuries on BP’s 

Valhall water injection installation in the Norwegian North Sea 

■ Zero injuries from Maritime Well Service’s operations in 2002 

■ Zero injuries for Kvaerner Oilfield Products in Norway during 2002 

■ Five years of operations and maintenance services without losttime 

injuries for Aker Kværner Offshore Partner in Bergen on 

Statoil’s Gullfaks C platform


Global operations 

global responsibility 

Aker Kvaerner has an infinite perspective on its 

business. But such a long-term view must not be 

confused with refusal to change. A long-term 

approach requires the willingness and ability to 

innovate, and equips the group to shape tomorrow’s 

industry. 

Through its values, Aker Kvaerner 

has created the foundation for a 

trust-based relationship with customers, 

shareholders, employees 

and society as a whole. The Group 

applies an infinite perspective to 

everything it does. It aims not only 

to succeed today and tomorrow, 

but also to deliver results which 

fulfil the expectations of coming 

generations. 

Aker Kvaerner is a knowledgebased 

group, in which the ability 

to develop managers and employees 

forms the basis for creating 

lasting value. The knowledge and 

abilities of the workforce, and the 

ability of the business to integrate 

and apply this expertise, are the 

core for all the Group’s deliveries. 

At the same time, its business 

presents clear challenges for 

employee health and safety, and 

for the natural environment. Only a 

responsible approach to such 

issues can give long-term success. 

The framework for Aker 

Kvaerner’s operations is influenced 

by external factors, and is 

constantly changing. In such a 

world, the ability to adapt quickly 

will be crucial for a long-term 

future. Major adjustments affecting 

many people may sometimes be 

required. 

Difficult assessments have to be 

made in such circumstances, but 

these are also an important part of 

industrial operations. Tough decisions 

must not be avoided, but the 

greatest possible responsibility is 

required in making the underlying 

evaluations and taking the necessary 

action. 

Aker Kvaerner has a good relationship 

with its customers, and 

will always strive to make this even 

better. A number of initiatives have 

been pursued over the past year 

to strengthen such relations. 

Customer surveys have been carried 

out, and a net-based system 

for customer follow-up is under 

development. 

The aim is to bring together 

experience and knowledge which 

can provide a basis for further 

learning. Aker Kvaerner is also 

integrating all the experience 

gained from executing major projects 

and managing risk in order to 

ensure high quality in delivering its 

solutions.


Sustainable industrial development 

Dungeness A nuclear power station 

In cooperation with British Nuclear Fuels, Aker 

Kvaerner has developed and installed a system 

for removing and processing radioactive waste 

from storage vaults at Dungeness A Power 

Station in the UK. The implementation of this 

facility has resulted in a significant impact on 

the environment by reducing the volume of such 

waste and keeping radiation levels well within the 

acceptable legal limit. 

Removing sulphates – profitable 

environmental investment 

Kvaerner Chemetics recently developed and 

patented a new process for chloralkali plants 

which not only cuts waste but also boosts 

returns. This industry produces chlorine and 

caustic soda at 600 plants world-wide. Based 

on nanofiltration, the new prize-winning treatment 

process reduces waste volumes and the 

need to handle hazardous waste. It now ranks 

as the leading sulphate control process for 

chloralkali plants. 

ONS Innovation Award for fuel 

cell technology 

In collaboration with Statoil, Statkraft and Shell, 

Aker Kvaerner is developing a multi-megawatt 

fuel cell technology – regarded as the most 

interesting energy solution for the future. The 

system has a big market potential, from electricity 

generation and ships’ engines to power 

supply on offshore platforms. In 2002, it won 

the prestigious Innovation Award at the international 

Offshore Northern Seas (ONS) exhibition 

in Stavanger. 

Putting a stop to flaring 

A technology developed by Aker Kvaerner to 

reduce flaring during oil production promises 

substantial reductions in nitrogen oxide and 

carbon dioxide emissions. Large volumes of gas 

are currently burnt off on oil fields, with several 

hundred flare towers burning in the Middle 

East alone. The Aker Kvaerner solution returns 

gas to the process instead. The first flare was 

switched off in Abu Dhabi during January 2003.


Building 

The future for Aker Kvaerner depends on the trust of 

customers, shareholders, employees, suppliers and society 

at large. Its values and leadership approach provide 

the recipe for success, and form the core of the common 

culture of quality being cultivated by the Group. 

trust 

Aker Kvaerner’s values and leadership 

approach were defined during 2002 on 

the basis of contributions from and dialogue 

with employees, union representatives 

and managers. 

These values encapsulate what is best 

about the Group and gives our people a 

goal to reach for. They bind Aker Kvaerner 

into one cohesive unit and lays the basis 

for building trust with our customers, our 

shareholders and the community. 

Since October 2002, the values and 

leadership approach enshrined in the 

People document have been an integral 

part of chief executive Helge Lund’s dialogues 

with the Aker Kvaerner people. 

The work of entrenching values and 

cultivating a common quality culture is 

pursued in every part of the world. 

Everyone in Aker Kvaerner has 

received a copy of the People document, 

which amplifies as well as defines the 

values and leadership approach. This 

document emphasises that the success 

of the Group is determined by the quality 

of cooperation between people with differing 

expertise and experience. 

Aker Kvaerner’s values lay the foundation 

for its leadership approach and inhouse 

work on people development. 

To ensure systematic follow-up, tools have 

been developed to measure how the 

values and leadership approach affect 

attitudes and actions. 

These measurements create the platform 

for further quality gains in the organisation. 

The aim is to give all the Aker 

Kvaerner people the opportunity to continue 

developing their ability to create 

results. That will help to reinforce “building 

trust” as the Group’s principal trademark.


Our Values – Speaking 

with Words and Action 

Customer Drive 

We always go the extra mile. 

We find new ways, always linked to real customer needs and business priorities. 

After all, without customer trust and satisfaction, the rest doesn’t matter. 

Hands-On Execution 

We are solution-oriented and get the job done. 

Once decisions are taken, we combine all our efforts and focus all our energies 

on execution. 

We focus on the right details at the right time and are precise and predictable. 

We follow through and ensure accountability. 

We stimulate entrepreneurship and we challenge bureaucracy, mediocrity, 

complicated hierarchies and defensive ways of thinking. 

We deliver on promises. 

Commercial Edge 

We make our numbers and deliver consistently over time. 

We balance short- and long-term results and carefully evaluate risks and rewards. 

Making money creates the resources for going forward and expands the strategic 

options for continuing success. 

Openness and Honesty 

We listen hard and talk straight. No sugar coating, no filters. 

Trust is impossible without early, accurate and reliable communication. 

We strive for “brutal” openness and honesty. All of us know where we stand, 

face reality and act on it. 

We are open to ideas from everyone, everywhere. 

We strive for the highest standards of ethical behaviour and integrity. 

HSE Mindset 

All accidents can be prevented. We strive continuously for zero accidents to personnel, 

material and non-material assets. 

We focus on employee health and on continuously improving the work environment. 

We conduct our operations through efficient use of materials and energy, with minimum 

waste and damage to the environment. 

We design products and services to have no undue environmental impact, to be 

safe and to be efficient in consuming energy and natural resources. We seek to 

ensure that our products can be recycled or disposed of safely. 

Developing People 

We continuously expand our people’s capabilities through challenging tasks, 

coaching and training. 

We respect and encourage diversity and build teams. 

We reward performance – what you achieve – and alignment 

with our values – how you behave. 

We strive to be the preferred employer in our industry.


Individual 

expertise 

and experience 

Aker Kvaerner’s deliveries are the sum of the expertise and experience 

of more than 30 000 individuals. 

This diversity of personal 

capabilities and the interaction 

between them liberates energy 

and generates new technology, 

creative solutions and lasting 

value. 

Knowledge and expertise 

represent significant competitive 

advantages in every sector where 

Aker Kvaerner works. That makes 

it important for the Group that the 

most talented people want to work 

for it, and that its existing 

workforce is inspired to seek 

further personal development. 

Professional ability and formal 

competence are important, both 

individually and together. 

The combination of leading-edge 

know-how and multidisciplinary 

working helps to create the 

diversity of expertise which 

characterises the Group. 

Aker Kvaerner actively strives to 

attract and develop talented 

individuals who understand our 

customer’s needs and 

requirements and who can 

produce and deliver the best 

solutions. Our highly competitive 

markets require us to make sure 

that we are using the full potential 

of our resources. 

To help this happen, it is 

important that employees at all 

levels can master several 

disciplines within their chosen field 

of expertise. For example, welders 

certified in welding both steel and 

aluminium, engineers with 

experience spanning different 

competencies and managers who 

can execute our projects. 

Aker Kvaerner is a knowledge 

and technology company, withhighly 

qualified employees in 

practical, technical and commercial 

disciplines – demonstrated 

with the following graphics: 

Highly-qualified people at every level 

Engineering/ 

technical 

1% ■ Doctorate 

10% ■ Master’s degree 

21% ■ University graduate 

7% ■ Technical/commercial 

training 

10% ■ College of further education 

44% ■ Skilled worker 

7% ■ Manual worker 

Finance and 

administration 

1% ■ Doctorate 

13% ■ Master’s degree 

42% ■ University graduate 

20% ■ Technical/commercial 

training 

23% ■ College of further education 

1% ■ Skilled worker


Answers which show 

the way 

The Group respects and encourages openness and 

diversity, because this means that accepted truths are 

challenged and the creativity and innovation which drive the 

Group forward are ensured. 

A climate survey called Listening to People was carried out among all 

Aker Kvaerner employees during the spring and summer of 2003. Due to 

be repeated annually, this exercise forms part of the Group’s overall 

management model and aims to establish how the workforce assesses its 

potential for improvement. 

Results from the survey will be used by project teams to establish 

specific improvement plans for each entity. They will identify the biggest 

challenges and how these are to be met. 

Improvement plans will specify goals and measures which allow 

progress to be evaluated in each area – entrepreneurial spirit, employee 

development or improving specific workplace conditions. 

The survey will also provide a basis for shaping personal performance 

targets for managers. 

All 50 questions in the web-based survey were related to the Group’s 

values and leadership approach, and to the way these affect the 

employee’s working day. The questionnaire was also circulated in printed 

form to personnel who had no access to a PC at work.


Sharing the 

challenges 

The strengths and weaknesses of Aker Kvaerner’s leaders are 

identified through “360-degree” assessments. Each executive 

receives clear feedback from their superior, colleagues, subordinates 

and customers about what they need to improve, both with respect to 

strenghts and weaknesses. 

Leaders in Aker Kvaerner are 

assessed and rewarded for the 

results they create and their contribution 

to cultivating good values. 

Senior vice president Egil 

Martinussen in Kvaerner Oilfield 

Products is meeting his subordinate, 

project manager Hans 

Andersson, to discuss how they 

can jointly achieve more. 

Mr Andersson has completed 

his 360-degree assessment, and 

both he and his boss have registered 

their results in a form on the 

intranet. The results of the inquiry 

are known. Together with Mr 

Martinussen, Mr Andersson 

reviews the assessment and discusses 

opportunities for getting 

even better. 

Sharing 

The new net-based Sharing with 

People tool gives all managers in 

the Group an effective feedback 

on how they perform their management 

role. This 360-degree 

assessment focuses both on the 

results they create and on how 

they achieve them. 

Mr Andersson’s expertise and 

abilities in terms of customer 

focus, dynamism and entrepreneurial 

spirit show that this is the 

right man in the right place. He 

ranks close to excellence on all 

parameters. Personally, he takes a 

less favourable view of his customer 

focus than those around him. 

“That’s probably because you 

see a certain improvement potential 

in yourself,” comments Mr 

Martinussen. “At the same time, 

those of us who’ve assessed you 

feel that you’re good at making 

use of others in the organisation 

are strong in this area. In this way 

you certainly live up to our expectations.” 

Stronger 

Openness and honesty are making 

an ever stronger mark on Aker 

Kvaerner. 

“Being assessed on how open 

you are is a completely new experience,” 

says Mr Andersson. “It’s 

easy to see how central this is in 

ensuring the Group’s development. 

Take HSE, for instance. 

Mutual trust is crucial in our interaction 

with the customer.” 

Mr Martinussen gets enthusiastic. 

“You’re one of the first to integrate 

HSE throughout the value 

chain in your projects, and that 

can be seen in the results. The 

assessments confirm that you’re 

highly regarded in this area.” 

Both perceive a challenge for 

the Group over employee development. 

They see that recruiting and 

developing the most talented people 

will be crucial for the business. 

“We both have more to do here,” 

Mr Martinussen acknowledges. 

“There’s a big desire among 

Aker Kvaerner employees to 

strengthen and develop new 

expertise,” agrees Mr Andersson. 

“Putting people back in the classroom 

is perhaps the least important 

aspect of this. The key 

requirement will be to give 

employees challenges and guidance 

in their work.” 

He has also been assessed on 

the company’s management principles 

- to listen, challenge, energise, 

execute, achieve and share. 

On the basis of the overall results 

from the 360-degree assessment, 

Mr Andersson will be given some 

measurable criteria for strengthening 

his own leadership skills. 

“Our values and management 

principles are helping to reinforce 

the sense of fellowship we need 

to develop as a company,” Mr 

Martinussen observes. “We focus 

now not only on earning money, 

but also on what makes us a leading 

global company.”


Challenging assignments: Hans 

Andersson (left) is project manager 

for the EPC contract to deliver the 

subsea system to Statoil’s Kristin 

development in the Norwegian Sea. 

Worth just over NOK 900 million, this 

job includes the development of technology 

which breaches new boundaries. 

Never before have oil and gas 

been produced from subsea installations 

under such high pressure and 

temperature. Egil Martinussen is a 

senior vice president at Kvaerner 

Oilfield Products. 

Words into deeds: All Aker 

Kvaerner employees receive a 

card which spells out the Group’s 

core values and management 

principles.


Achieving 

results 

Aker Kvaerner’s leaders agree personal business 

commitments (PBCs) with their superior, setting 

targets which play a key role in the performancerelated 

reward system. 

In Aker Kvaerner the leaders’ contracts 

specify clear requirements 

for each manager and his leadership 

skills, based on the Group’s 

values, management principles 

and business goals. They allow the 

manager concerned to define their 

responsibility for ensuring that 

Aker Kvaerner builds long-term 

relationships with customers, 

business contacts and society 

as a whole. The net-based tool 

Achieving through People, is part 

of the Group’s system for managing 

results. 

Cooperation 

Gary Mandel, who heads E&C 

Americas from Aker Kvaerner’s 

Houston office, is drawing up his 

PBC in cooperation with his boss, 

Group executive vice president 

Jon Erik Reinhardsen. 

“My personal goals are based 

on income and profit targets, HSE 

challenges and the strategic plans 

for my division,” he comments. “I 

then include the improvement 

measures from the 360-degree 

assessment I’ve been through. 

Finally, I’ve reviewed Mr Reinhardsen’s 

own PBC to see which 

of his targets I’m helping to 

deliver.” 

After Mr Mandel has formulated 

a proposal for detailed and measurable 

criteria, he goes through 

them with Mr Reinhardsen to 

assure the quality of the PBC. 

Over the coming year, this will play 

a central part in assessing his 

leadership. 

“We distinguish clearly between 

budget targets and more overarching 

goals,” explains Mr Reinhardsen. 

“The PBC is primarily 

intended to ensure that our managers 

develop their ability to create 

strategically significant results 

and that they act in accordance 

with the Group’s values and leadership 

approach.” 

Customers 

Mr Mandel involved several key 

customers in his 360-degree 

assessment. They underlined how 

significant it was for them that 

Aker Kvaerner sought specific 

improvement suggestions. And 

they confirmed that the Group’s 

transparency, honesty and clear 

focus on values and management 

development were important in 

their choice of supplier. 

“A number of the goals in my 

PBC directly reflect customer 

feedback,” Mr Mandel notes. “It’s 

highly motivating when customers 

are involved in determining my 

performance targets in this way. 

It’s the first time in my career that 

my contribution has been tied so 

specifically to meeting the Group’s 

overall objectives. I’m very keen to 

be a winner, and the PBC allows 

me to measure how I can improve 

my abilities in that respect.” 

The PBC tool is available 

throughout the year, so that each 

manager and their superior can 

keep each other continuously 

updated on how they are performing 

in relation to their goals. 

Satisfactory progress is marked 

with a green flag, but a red one 

appears when a task advances 

more slowly than expected for one 

reason or another. An explanation 

of the countermeasures adopted 

must also be appended. 

A PBC is not only significant for 

the individual concerned. Taken 

together, these commitments provide 

Aker Kvaerner with a unique 

opportunity to develop leadership 

in the Group. 

Houston: Executive vice 

president Gary Mandel (right) and 

Group executive vice president 

Jon Erik Reinhardsen discuss a 

PBC for the coming year.

Aker Kvaerner Kværner 2003 ■ 21 

Rewarding results 

Managers are rewarded according to financial performance, achievement of agreed targets and alignment to the Group's 

values and leadership approach. The reward is paid as an annual variable pay, on top of the annual base salary. Special 

benefits (pension, insurance, loans etc.)are terminated and remaining benefits are the same that apply to all employees.

Editing, design and layout: GCI Monsen 

Customer 

Drive 

Developing 

People 

HSE 

Mindset 

Building 

Trust 

Through: 

Openness 

and 

Honesty 

Hands-On 

Execution 

Commercial 

Edge 

Our Values – Speaking 

with Words and Actions 

Aker Kværner ASA 

Prof. Kohts vei 15 

P O Box 169 

NO-1325 Lysaker 

Norway 

Tel: +47 67 51 30 00 

Fax: +47 67 51 30 10 

www.akerkvaerner.com

People And Values - Aker Solutions

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