Another North Sea Win For Bibby Offshore

Published at 02:08PM - 26/05/16

Bibby Offshore has announced it has been awarded another major contract for subsea work in the UK sector if the North Sea.

It will provide subsea construction, ROV and diving services at the largest oil field in the North Sea to Apache North Sea.

“This contract win, in a competitive market, further demonstrates the confidence our clients have in Bibby Offshore’s ability to successfully deliver subsea projects on time and within budget”, Bibby Offshore Chief Operating Officer Fraser Moonie, said.

Another North Sea Win For Bibby Offshore

The contract is expected to begin this month and will use Bibby Offshore’s multi role diving support vessel – Bibby Topaz – equipped with an inspection class ROV, the company informed.

The project involves well tie-ins and spool change-out at the Aviat and Bacchus locations, as well as the associated pre-commissioning works, which should be conducted to tie back the subsea wells to the Forties Oil Field, 110 miles east of Aberdeen.

A Busy Year For Bibby

Earlier this month, the oil services firm had announced a multimillion pound contract for a comprehensive DSV IRM campaign at two fields in the UK Continental Shelf in Northern North Sea and a construction project near the coast of Trinidad.

The contracts are due to be executed between the third and fourth quarter of the year.

As well as this, the company announced a contract with ConocoPhillips last month, marking the first award secured by the company’s Norwegian office. Under this agreement, Bibby is to supply services to the subsea oil pipeline, Norpipe.

Nevertheless, the company has posted a loss earlier this month, which it attributed to challenging market conditions. The firm attributed this decrease in turnover and operating profits to historic lows in shipping rates and oil prices, food price deflation and continued low interest rates.

Bibby is now focusing on its core North Sea markets and expansion in the Gulf of Mexico.