The major re-development of the Loyal and Schiehallion fields, known as the ‘Quad 204 Project’ will be jointly financed by BP (36.3%) and its partners: Shell (54.03%), OMV (4.84%) and Statoil (4.84%) The project will contain two major parts: a brand now FPSO (floating production, storage and offloading vessel) and the subsea infrastructure also receiving a major upgrade. BP believed that once complete, the project will extend the life of the field to 2035.
Trevor Garlick, BP’s Regional President for the North Sea, said “It is great to see more than 30 companies from all parts of the UK working together to contribute towards this important offshore project.”
Business Secretary Vince Cable said: “As I saw for myself at the Offshore Europe conference in Aberdeen last week, Britain’s oil and gas industry continues to thrive. Its expertise and innovation is impressive”.
“Employing over 400,000 people and providing the majority of our energy needs, the Government’s industrial strategy will help keep this important sector growing.
“An important part of the strategy is reenergising the British supply chain. I want to create the conditions for the SMEs across the country to flourish in a highly-competitive global market. So it’s encouraging that the UK supply chain have played a major role in the development of BP’s Quad 204 project and I hope more will follow.”
Contracts have so far been awarded to companies across the UK from London to Lerwick. To establish the new wells needed for the project, a brand new semi-submersible drilling rig has been commissioned- The Deepsea Aberdeeen.Last updated on 11:58PM - 31/07/14