Dubai Drydocks's new JV will see it work on FPSO vessel for UK's Rosebank oil and gas field
New JV sees DP World entity take on upgrade work on FPSO vessel
Dubai: Dubai Drydocks, the ship repair and maintenance services company, is making further headway overseas, this time through a joint venture to upgrade a floating production storage and offloading (FPSO) vessel designated for the Rosebank oil and gas field in the UK.
Part of DP World, Dubai Drydocks’ partner in the venture is Norway's Aker Solutions.
The first contract was signed with Altera Infrastructure, an energy infrastructure services group, to upgrade, refurbish and electrify the FPSO, the Petrojarl Knarr. The vessel will be re-deployed at Rosebank field, with the upgrades allowing it to be kept in the field for 25 years without drydocking.
"This joint venture will deliver world-class maritime engineering and construction solutions to the global energy industry,” said Sultan Bin Sulayem, Group and Chairman and CEO at DP World Group. “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."
Recently, Dubai Drydocks took on the main role at an existing shipyard in Montenegro, to oversee repair and related services for yachts, especially those that anchor in and around European hubs.
Scope of new contract
Aker Solutions will handle the 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 Petrojarl Knarr is 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 end 2025.
"The 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," said Capt. Rado Antolovic, CEO, Drydocks World - Dubai.