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etap

North Sea

Aquatic gears up modular carousel for Etap deployment

An Aberdeen firm which is getting ready to supply a groundbreaking piece of kit for one of the North Sea’s biggest projects is on track to return to growth this year, its boss said yesterday. Revenues at Aquatic Engineering and Construction were down by about a quarter last year as the firm, like most of its rivals, took a hit from the oil and gas downturn. But Aquatic’s early moves to restructure the business and a busy start to 2016 have boosted the company, which specialises in back deck reels.

Oil & Gas

Gallery: Images of BP’s $1billion investment

Oil major BP has confirmed a $1billion investment in the North Sea. The company's investment is expected to add an additional 15 years to the Eastern Trough Area Project (ETAP) as part of a special life extension project. BP said it remained committed to the North Sea despite the current economic challenges which has seen the oil price dip below $50 this week.

Insights

EV Insights: BP’s ETAP figures broken down

Take a look at the facts and figures behind BP's bumper $1billion investment in one of its North Sea assets. The oil major has announced the cash injection could add up to 15 years to the project. The money – £670million – will be funnelled into its Eastern Trough Area Project (Etap), securing its future through to 2030.