Calgary Based Cenovus Energy Awards Harland & Wolff £61 Million FPSO Upgrade Contract
Harland & Wolff have announced that they been awarded a £61m base contract to deliver the mid-life upgrade for the SeaRose Floating Production Storage and Offloading (FPSO) vessel.
The contract is with Cenovus Energy, an international integrated oil and natural gas company headquartered in Calgary, Canada. The vessel is expected to arrive at the company’s Belfast Yard in early 2024 and will be in the Building Dock for over three months.
John Wood, CEO of Harland & Wolff commented, “I am delighted that Cenovus has chosen Harland & Wolff as its preferred yard to undertake the mid-life upgrade of the SeaRose. This is a significant win within our non-defence portfolio from a global, blue-chip energy group and I am pleased that we are gaining a reputation as a go-to yard for large and complex programmes.”
Since acquiring Harland & Wolff in December 2019, Harland & Wolff Group Holdings plc (previously known as InfraStrata plc until September 2021) has seen the organisation grow significantly.
In August 2020 they reopened what is now known as Harland & Wolff (Appledore) and in February 2021, they acquired two ex-BiFab sites based in Scotland – now renamed Harland & Wolff (Arnish) and Harland & Wolff (Methil) respectively giving the company one of the largest fabrication footprints dedicated to their core markets. The two Scottish yards will focus on fabrication work within the renewables, energy and defence sectors. In addition they have two of the largest drydocks in Europe which at 80% capacity could give sales of in excess of £500m per annum when operational efficiencies have been achieved.
As a result of the acquisition of Harland & Wolff (Appledore) in August 2020, the company has been able to capitalise on opportunities at both ends of the ship-repair and shipbuilding markets where there is significant demand.
In addition to the four yards, Harland & Wolff also owns the Islandmagee gas storage project, which is expected to provide 25% of the UK’s natural gas storage capacity and to benefit the Northern Irish economy as a whole when completed.