TechnipFMC, Odfjell Drilling and Altera Infrastructure are big contract winners in the newly approved Rosebank oilfield project west of Shetland.
Project partner Ithaca Energy announced a series of major contracts for the development hot-on-the-heels of it winning approval from the offshore regulator, the North Sea Transition Authority.
TechnipFMC’s £412m deal
Energy services firm TechnipFMC secured an integrated engineering, procurement, construction and installation deal – worth an estimated £412 million – for subsea production systems, umbilicals, risers and flowlines.
More than half of the value is to be delivered in the UK, with “a large portion in Scotland”.
Norway-based Equinor has previously said Rosebank is estimated to create £8.1 billion of direct investment, of which £6.3bn is expected to be invested in UK-based businesses.
— North Sea Transition Authority (@NSTAuthority) September 27, 2023
TechnipFMC’s project management and engineering will be handled out of Aberdeen, with some of the equipment manufactured in Dunfermline.
Odjfell Drilling has been awarded a rig contract, worth an estimated £270m, for integrated services and other modifications. The Deepsea Atlantic mobile rig is scheduled to start a seven-well drilling campaign in the second quarter of 2025.
Altera has been awarded a bareboat charter/operations and maintenance contract related to the Petrojarl Knarr floating production storage and offloading vessel which will be used on Rosebank. It is a nine-year deal, with options up to a total of 25 years.
Rosebank, 80 miles north-west of Shetland, is one of the most controversial projects in the energy sector, with environmentalists and members of the academic community arguing its approval isn’t acceptable for net-zero targets.