BP Contracts Awarded For Subsea Operations

BP has awarded new federal call-off contracts to Stolt Offshore, Subsea 7, Caldive (Wellops UK) and Technip Offshore UK, for its subsea operations in the North Sea, including UK, Norway and Netherlands.

The contracts cover marine vessel related operations for BP's subsea construction, decommissioning, inspection, repair and maintenance requirements:

1. BP's annual North Sea Subsea Inspection campaign will be carried out by Stolt Offshore for all assets other than BP's West of Shetland fields (Foinaven, Schiehallion and Loyal). Annual spend is expected to be between £10-12m.

2. Worth around £4-6m per year, BP's annual North Sea Subsea Repair & Maintenance programme will be delivered by Technip Offshore UK. 3. BP has contracted Subsea 7 to provide the Subsea Viking on standby for the winter period 2005/6 (October to April), with a £7m gross spend and the option of a second winter period starting October 2006.

The same vessel will also be used for the 2006 summer construction season in the West of Shetland. Approximate gross spend will be £20m. This commitment is for a minimum duration between April and October 2006.

Dave Blackwood, Director & Business Unit Leader for BP's North Sea business, said: "These new awards reflect our continuing commitment to the North Sea, and our desire to nurture effective long-term relationships with the supply chain under mutual advantage that would benefit our businesses".

BP will invest $2.6 billion on its North Sea business in 2005; $1.2 billion (£669m) into a range of projects and activities and $1.3 billion (£761m) will be invested in operating, supporting and maintaining its producing assets.

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Posted 02/08/05

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