STATOIL framework extension contributes to KKI’s strong year-end results

Despite the ongoing challenging economic climate, KKI has reported a strong final quarter in their 2012/13 financial year, posting a record level of sales at year-end.

The company has, throughout this year, continued to invest in facilities, equipment and people. As a result, every department has contributed to the company’s overall successful performance. Recruitment to skilled positions in the workforce continues, with over 30 new people taken on during the last 12 months.

The outlook for the year ahead is equally positive. KKI reports a strong order book, particularly in its subsea and aftermarket departments. It has several valuable project contracts in the pipeline and a major internal systems upgrade is due to be completed and implemented during 2013. It has also recently been awarded an extention to its STATOIL Frame Agreement in Norway for a further two-year period. In addition the company will continue to attend key exhibitions around the world in 2013, including Offshore Europe in Aberdeen in September.

STATOIL framework extension
KKI has announced that it has secured a further twoyears on its prestigious Frame Agreement contract with STATOIL PETROLEUM AS in Norway. STATOIL first signed this contract with KKI in 2007 for an initial three-year period, with options to extend by a further three years in 2010, and then by a further two years in 2013. STATOIL has now exercised both options to the Agreement.

Through the Frame Agreement contract, KKI has developed a close working relationship with STATOIL, which includes technology-sharing initiatives, automation of ordering processes and statistical measurement of purchaser and supplier performance. Together, KKI and STATOIL’s objective is to reduce lifecycle cost, product lead-time, minimise commercial and technical risk, improve commercial and technical benefit, and above all, work safely. Koso

Kent Introl
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Published: 17th October 2013