BP Orders 4 PSVs from HHI for North Sea

Press Release
Friday, May 18, 2012

BP orders four new Platform Support Vessels to help deliver North Sea strategy

The vessels will be deployed to support its West of Shetland (WoS) and Norwegian operations and are be delivered between the winter of 2013 and summer of 2014.

The purpose built and highly specified vessels have been designed to provide long term support to BP’s North Sea business and will provide the capabilities BP requires to deliver its strategy more efficiently and safely. The vessels will have oil spill response capability and special tanks to transport fluids required for planned enhanced oil recovery (EOR) schemes.

The arrangement is structured such that BP Shipping has contracted Hyundai to build the vessels and then hire them to BP Exploration Operating Company on a 15 year bareboat term charter. This project is consistent with BP’s strategy for marine offshore supply vessels that promotes vessel ownership where long term ‘life of field’ can be demonstrated.

Trevor Garlick, Regional President for BP North Sea, said, “Our long term commitment to the North Sea gives us the confidence to make major investments in vital support services. These new vessels will provide BP with a number of safety and commercial benefits, as well as allow for the greater deployment of technology. Improving our capability to recover more oil from our reservoirs is crucial to the future of the North Sea.”

Mark Hardie, UK Logistics Manager for BP’s North Sea Region, said: “This is a significant investment in BP’s North Sea marine capability and will bring a number of business and local benefits from late 2013 onwards. The UK dedicated vessels will be based and maintained in Aberdeen.”




 


 

 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Teekay Renews Hull and Propeller Monitoring for LNG Carriers

Canada-based shipping company Teekay Corporation has renewed its contract with Propulsion Dynamics for its hull and propeller performance monitoring system CASPER Service.

NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.

Vale Financials Disappoint; Iron Ore Prices, Currency Cited

Brazil's Vale posted a surprise loss of $1.44 billion on Thursday, hurt by a fall in the price of iron ore, higher production costs and a weakening Brazilian currency.

Shipbuilding

Keel Laid, Fabrication Started on 2 Navy Warships

This week, General Dynamics Bath Iron Works celebrated two milestone events for the Arleigh Burke-class program. On October 30, Bath Iron Works held a keel laying

AVEVA E3D Takes Center Stage

Customer case studies combine with advances in asset visualization and cloud technologies to showcase a new era in the creation and management of complex Digital Assets.

Braemar Hosts Insurance Experts

Braemar (incorporating The Salvage Association) welcomed an invited group of marine insurance professionals onto its specialist port and shipyard familiarization

Energy

Easing US Oil Export Ban Unlikey to Raise Gasoline Prices

A government study on Thursday essentially supported the notion that easing the decades-old restriction on exporting U.S. crude was more likely to lower than raise

Exmar Optimistic About Gas Carrier Market into 2015

Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter

Partners Deliver Modular Floating Tidal Energy Platform

A group of offshore companies, including Bluewater, Damen and Van Oord among others, has partnered for a floating tidal energy platform a project to generate clean electricity,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1435 sec (7 req/sec)