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The project is a reconstruction project of BP and its partners. The project mainly involves two aspects: the new floating production storage and offloading vessel (FPSO) and the submarine basic production facilities are undergoing major upgrades.
BP North Sea President Trevor Garlick said: "The UK-based subsea project provides tremendous expertise and capabilities to participate in the development of advanced equipment to maximize our lead in this field until 2035, from all over the UK. 30 companies are involved in this important offshore project."
British Business Secretary Vince Cable said: "When I learned at the European Maritime Union in Aberdeen last week that the British oil and gas industry continues to thrive, his professionalism and innovation are impressive."
BP grants UK company a £1 billion contract
On September 11, BP announced that it has awarded the UK headquarters company a £1 billion contract to provide services and equipment for the two major oil fields, Schiehallion and Loyal, west of the Shetland Islands.