Technip Wins Major North Sea Subsea Contract from BP
Technip announced Monday that its UK subsidiary has been awarded a contract by BP and partners to develop the subsea infrastructure for the Quad 204 project, located West of Shetland. This is Technip's largest contract to date in the UK North Sea, worth approximately $790 million (EUR 600 million).
The Quad 204 project, approved in July 2011, involves replacing the existing Schiehallion production facility with a new purpose built FPSO (floating, production, storage and offloading) vessel, and installing extensive new subsea infrastructure. This major re-development will enable the potential recovery of an additional 450 million barrels of resource and extend production through to 2035.
The contract awarded to Technip UK covers a broad scope of work, including:
"This award is proof that the North Sea is still an important source of opportunities for large and technological developments. The award follows several other contract successes in the UK for Technip and further reinforces our leadership in the region, as well as our relationship with a major client," said Subsea COO Frédéric Delormel.
"We are extremely pleased to be supporting BP with the Quad 204 project. It is a significant milestone for the United Kingdom Continental Shelf both in terms of size and scope and is a fantastic example of Technip's ability to deliver large, complex developments. Furthermore, as a result of Quad204 and other contract wins we will be looking to grow our Aberdeen based team over the next year," said Knut Boe, Technip's senior vice president for the North Sea/Canada Region.
"We are investing in North Sea assets with growth potential. The re-development of the Schiehallion and Loyal fields are a key part of this. We look forward to working with Technip UK to deliver what is one of the UK's largest ever subsea installation contracts," said Trevor Garlick, BP's regional president for the North Sea.
The offshore campaign is expected to begin in 2013. Technip's UK based office near Aberdeen will project manage the contract and the spoolbase in Evanton, Ross-Shire, will fabricate the 15 steel pipelines. Technip's facility in Le Trait, France will manufacture all flexible pipelines. Various vessels from Technip's fleet will be used to execute this project and these will also be managed from the Aberdeen office.
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