Drydocks World, a DP World Company, said its joint venture with Aker Solutions, a global provider of oilfield products, systems and services for the energy sector, has been signed up by Altera Infrastructure for the upgradation of a Floating Production Storage and Offloading (FPSO) vessel at an oil and gas field in the UK.
The new joint venture combines the complementary strengths, resources and experience of Drydocks World’s leading marine and offshore services with Aker Solutions’ integrated solutions, products and services to cater for the needs of the global energy industry.
As per the deal, Aker Solutions will handle the detailed design and procurement of equipment in Norway, while Drydocks World will be responsible for the fabrication and construction work at their yard in Dubai.
The joint venture entity had signed its first contract with Altera Infrastructure, a global energy infrastructure services group, to upgrade, refurbish and electrify the FPSO, the Petrojarl Knarr.
The vessel will be redeployed at Rosebank field, with the upgrades allowing it to be kept in the field for 25 years without drydocking.
The Petrojarl Knarr FPSO, which is the owned by Altera Infrastructure, is currently at the Aker Solutions yard in Norway and will remain there until it is towed to Dubai later this year. The engineering, procurement and construction (EPC) work is planned for completion by the end of 2025.
The contract was officially signed with the joint venture in Dubai at DP World’s Head Office by Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World and Chairman of Drydocks World; Sturla Magnus, Executive Vice President, Topsides and Facilities at Aker Solutions; and Arne Hygen Tørnkvist, EVP of Altera Infrastructure.
On the co-operation deal, Bin Sulayem said: "This joint venture between Drydocks World and Aker Solutions will deliver world-class maritime engineering and construction solutions to the global energy industry. The sector needs smart, collaborative partnerships like this to ensure sustainable production and to successfully transition equipment and vessels for the future. Today’s announcement is an important step forward."
Drydocks World-Dubai CEO Captain Rado Antolovic said: "Based on our strong prior working relationship and the aligned cultures of each partner, the new joint venture between Drydocks World and Aker Solutions will bring the shared strengths and values of both companies and provide a range of solutions including engineering, procurement and construction to a global market."
Akers Solutions CEO Kjetel Digre said: "Collaboration and partnerships are at the core of how we work. In Drydocks World-Dubai, we have a world-class partner in developing solutions, and we look forward to continuing our long-term relationship by delivering jointly towards the Rosebank oil and gas field development project."
Tørnkvist expressed delight at signing this contract on behalf of Altera, the owner of the Petrojarl Knarr FPSO.
"The FPSO will operate for up to 25 years in the most challenging environment on the planet. I see this as a start of a strong and long-term relationship with Drydocks World," he added.