Dubai's Drydocks World forms joint venture with Aker Solutions

Partnership to upgrade production at UK’s Rosebank oil and gas field

The contract was officially signed 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. - Supplied picture

A Staff Reporter

Published: Fri 3 Feb 2023, 2:19 PM

Drydocks World, a DP World Company, and Aker Solutions formed a joint venture to upgrade a floating production storage and offloading (FPSO) vessel for the Rosebank 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.

The joint venture signed its first contract with Altera Infrastructure, a leading 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.

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 Petrojarl Knarr is currently at the Aker Solutions yard in Norway and will remain there until it is towed to Dubai, later during 2023. The engineering, procurement and construction (EPC) work is planned for completion by the end of 2025.

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.”

Capt. Rado Antolovic, CEO, Drydocks World-Dubai added: “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.”

Kjetel Digre, CEO of Akers Solutions 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.”

Arne Hygen Tørnkvist, EVP of Altera Infrastructure added: “I am very pleased to sign this contract on behalf of Altera - being 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.”