NKT

NKT was awarded a turnkey order on 15 December 2022 by OKEA ASA for the Draugen power-from-shore electrification (parallel award by Equinor Energy AS for the neighbouring Njord project). NKT's scope covers design, manufacture and installation of a 123/145 kV HVAC offshore power cable system, with installation by NKT's cable-laying vessel NKT Victoria. The cable is manufactured at NKT's Karlskrona, Sweden facility. Combined contract value across Draugen + Njord is approximately EUR 160 million (market prices) / EUR 145 million (standard metal prices). Production is scheduled to start in 2023 with commissioning planned for 2025. The cable system enables the Draugen platform to receive power from the Norwegian mainland grid, replacing existing gas turbine generation.