BP has revealed it has awarded contracts worth more than £1 billion to UK-based firms as it powers ahead with redevelopment of the Schiehallion and Loyal fields west of Shetland.
The latest in a string of awards was a £65 million contract for subsea trees to Leeds-based OneSubsea. Meanwhile Rosyth-based Babcock and Oceaneering Umbilicals have also picked up work as part of the supply chain.
The project includes a new floating production, storage and offloading vessel, alongside a major upgrade of subsea infrastructure. This is part of a £3bn total investment alongside partners Shell, OMV and Statoil.
It is expected to extend the life of the field beyond 2035, with an estimated 450m barrels of oil equivalent much more than originally estimated still available.
