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BP awards over USD 1.6bn in North Sea redevelopment contracts

19th September 2013

The contracts have been given to companies from the UK’s subsea industry for the redevelopment of the Schiehallion and Loyal fields

The design for the new FPSO
The project will rejuvenate the Schiehallion field after appraisals showed that there are an additional 450 million barrels of resources

BP announced that it has awarded over US 1.6bn in contracts to UK-based subsea companies for the redevelopment of the Schiehallion and Loyal oil fields located west of Shetland. The oil major sees this as a show of the ''great expertise and capability'' of the UK subsea industry.

 

The latest is a USD 104.5m contract to OneSubsea for subsea trees. The company will manufacture 11 trees which will be used to monitor and control the production of a subsea well.

 

"The UK-based subsea engineering industry offers great expertise and capability and is fully engaged in developing highly-advanced equipment that will ensure we maximise recovery from this field until 2025 and beyond,'' said Trevor Garlick, BP regional president for the North Sea.

 

The Quad 204 project will rejuvenate the Schiehallion field after appraisals showed that there are an additional 450 million barrels of resources left to explore. The project includes a new FPSO and an upgrade of the subsea infrastructure.