Kjell Inge Rokke's Kvaerner is targeting big growth in the FPSO and offshore renewables sectors.
It has set up two new "focus areas" to grow its operations in those markets by 40% in the next few years.
The aim is to increase annual revenue from around NOK 7.3bn ($813.55m) in 2018 to NOK 10bn by 2023.
It said significant wind power projects are expected both on the Norwegian continental shelf and internationally.
Kvaerner has already delivered over 50 units for offshore wind projects, and is currently involved in early phase work for several customers.
It also sees opportunities for wind power in other regions, especially offshore Europe and North America.
FPSO expertise
The company also forecasts an increasing number of opportunities both in Norway and overseas for small unmanned platforms with steel jackets, and is also expecting growth for FPSOs.
It is working on delivering an FPSO to the Norwegian Johan Castberg field at the moment.
CEO Karl-Petter Loken said: "We have efficient facilities for building platforms, with new automated production equipment and world-leading expertise.
"We believe that we are able to offer one of the world's best production lines for advanced FPSOs, focusing on secure execution within agreed quality, time and budget. We aim to win and execute a series of FPSO projects after Johan Castberg."
