Aker Kvaerner Wins Subsea Contract from BP

Aker Kvaerner's subsidiaries in Aberdeen are to play a significant role in the continuing development of BP's West of Shetland projects, after winning a major new subsea managed service contract. The three-year deal, worth up to GBP 15 million, will see Aker Kvaerner providing planning and operations support to BP's developments West of Shetland, including the Schiehallion, Foinaven and Loyal fields.

The Aker Kvaerner subsidiaries Aker Kvaerner Offshore Partner Ltd and Kvaerner Oilfield Products Ltd. have been working in the area west of Shetland since 1995. Peter Metcalf, the business manager on the project, says the new contract is a credit to the Aker Kvaerner team's past performance.

"It goes without saying that this is great news for everyone concerned. Our people have proved their worth over the years, and have also shown their ability to adapt to changes in BP's asset structure. The west of Shetland region is an exciting area for oil and gas, and we are delighted to be playing such a major role."

The Schiehallion, Foinaven and Loyal fields are estimated to contain around 600 million barrels of recoverable oil. Due to the water depth in the area, Foinaven and Schiehallion are heavily reliant on subsea technology for unmanned intervention, as it is too deep for divers. Aker Kvaerner Offshore Partner's managing director, Chris Bird says his team's expertise in planning and supporting this type of work gives them an advantage over competitors: "We were one of the first to recognize that new ways of thinking would be required if previously untapped reservoirs were to be exploited. By investing in research and development at an early stage, we have been able to produce the technology and methods that will help to ensure our oil and gas fields are productive for many years to come. I want to congratulate our West of Shetland team on the award of this new contract. It is down to their hard work and they deserve all the credit."