Burntisland Fabrications Ltd (BiFab) has secured a contract for the £1.4 billion ($2.18 billion) Cygnus Project which will develop the sixth largest gas field in the UK Southern North Sea.
The contract covers the award of the design, procurement and construction of four jackets, complete with piles, with a total weight of approximately 8,000 tonne and an estimated value of £47 million.
The project which will create 100 new jobs, will involve BiFab’s manufacturing facilities at Methil, Burntisland and Arnish.
Lena Wilson, chief executive at Scottish Enterprise, Scotland’s main economic development agency, commented “This announcement from BiFab is fantastic news for Scotland’s oil and gas sector. It’s also very satisfying to see such a positive outcome from the investment we’ve made, alongside our partner Fife Council, in the Fife Energy Park to support the energy sector’s infrastructure.”
Out of £1.4 billion which will be invested in the Cygnus project, 80% of which is expected to be awarded to UK-based companies creating 4,000 direct and indirect jobs over the next four years during the construction phase.
“Through Scotland’s recently launched Oil and Gas Strategy, we know that the North Sea has at least 40 years worth of production remaining and this announcement is a testimony to its long term importance and the opportunities for future development that remain. Which is why it’s great to see companies like BiFab already taking advantage and growing their business now. We’ll continue to assist ambitious Scottish companies and play our part in supporting Scotland’s drive to fully exploit our oil and gas capabilities.”
The Cygnus field is the largest discovery in the Southern Gas Basin in the last 25 years.
Production is expected to start in late 2015. The field is expected to meet demand for nearly one and a half million homes at peak production, accounting for around 5% of the UK’s gas production.
Offshore Energy Today Staff, August 8, 2012