UK: Floatel Secures BP Clair Ridge Accommodation Support Contract

Floatel International has signed a Contract with BP Exploration Operating Company Limited for provision of its accommodation and construction support vessel Floatel Victory for the Clair Ridge Development project. The Clair Ridge field is located on the UK Continental Shelf, approximately 66 km west of Shetland Isles.

The charter period will commence in June 2015 with a firm hire period of twelve months. BP has the option to extend the contract.

Floatel Victory is a DP 3 semi‐submersible accommodation and construction support vessel and is scheduled to be delivered from Keppel FELS Shipyard in February 2014. The vessel will be built to meet the latest UK HSE rules and regulations and will have an accommodation capacity of 500 persons in single and double bed cabins. In addition to its DP 3 positioning capability, the vessel will be equipped with a ten point chain mooring system.

The large payload and deck area, in combination with dual cranes able to support the host facility, makes the vessel ideal for construction support during new construction, maintenance activities or for decommissioning projects of offshore oil and gas installations.

“I am extremely pleased that Floatel International has been selected contractor for provision of accommodation support services for the Clair Ridge Project and I am also very pleased to announce the first contract for our new build Floatel Victory. We look forward to helping bring on‐stream the Clair Ridge development in a safe, efficient and timely and manner” says Mr. Peter Jacobsson, CEO Floatel International AB.

The Clair Ridge development will involve the construction and installation of two new, bridge-linked platforms, scheduled to be installed in 2015 with production expected to commence in 2016. The new facilities are being designed for 40 years of production and will require a total capital investment of around £4.5 billion.