Dana Petroleum awards PD&MS FPSO engineering contract

The company will carry out a range of engineering modifications and execute offshore construction on Dana Petroleum’s Triton and Western Isles FPSO assets.

Due to run for an initial three years, the contract also includes an option to extend to five years.

It forms part of Dana Petroleum’s strategy to create increased longer-term value through contractor consolidation in the modifications space.

Liam O’Neil, PD&MS chief operating officer, said: “This contract with Dana Petroleum underpins our leading market position. We look forward to working in partnership with the team at Dana to unlock maximum efficiencies through delivery of safe, predictable, and sustainable solutions.

“We have an extensive track record of delivering right-sized and innovative modification projects across the full asset lifecycle and combining this with our well-established decarbonisation expertise and experience means we are very well placed to deliver lower carbon and lower cost modifications to Dana over the term of the contract.”

A direct value for the contract wasn’t given but it’s part of a series from Dana Petroleum designed to “offer clarity and commitment” to the supply chain.

Taken together, they total £71 million and constitute the Korean-owned company’s “commitment to the regional economy”.

Eiko van Dalen, chief operating officer at Dana Petroleum said: “We are really pleased to award this contract to PD&MS. It represents an opportunity to build a new partnership together. Our aim is to offer clarity and commitment to our supply chain partners through a series of three-year contracts, all of which include options for extension. Taken together, they represent a £71 million pound commitment to the regional economy over the next three years.”

Read the latest issue of Oilfield Technology in full for free: Issue 3 2021

Oilfield Technology’s third issue of 2021 starts with a report from Wood Mackenzie focusing on the upstream industry’s fortunes in Asia-Pacific. The rest of the issue is dedicated to features covering offshore engineering, coiled tubing, frac technology, completion technologies, water management, well placement and much more.

Exclusive contributions come from Wild Well Control, Cudd Pressure Control, TMK, NOV, Archer, Tendeka, TETRA Technologies and more.

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/18112021/dana-petroleum-awards-pdms-fpso-engineering-contract/