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.
