Image: Harland&Wolff
In a significant development for the maritime industry, Harland & Wolff, a renowned shipyard, has secured a substantial £61 million contract for the mid-life upgrade of the SeaRose Floating Production Storage and Offloading (FPSO) vessel. The contract has been awarded by Cenovus Energy, a prominent international integrated oil and natural gas company headquartered in Calgary, Canada. This commendable undertaking marks a major milestone for both companies, showcasing their expertise in the energy sector.
Transformative Upgrade at Belfast Yard
The SeaRose FPSO vessel is set to make its way to Harland & Wolff’s Belfast Yard in early 2024, where it will undergo an extensive transformation. The vessel is slated to be stationed in the Building Dock for a duration spanning over three months, indicating the intricate nature of the upgrade process. This endeavor stands as a testament to the capabilities and state-of-the-art facilities offered by the Belfast Yard.
A Resounding Victory for Harland & Wolff
John Wood, the CEO of Harland & Wolff, expressed his elation at being chosen by Cenovus as the preferred yard for this crucial project. He emphasized the significance of this win within their non-defence portfolio, showcasing their ability to handle large and complex programs. Harland & Wolff has been making remarkable strides since its acquisition by Harland & Wolff Group Holdings plc in December 2019. The company’s expansion and diversification efforts have not only solidified its position in the industry but have also underscored its reputation as a go-to yard for substantial projects.
A Remarkable Growth Trajectory
Since the acquisition, the company has seen substantial growth. The reopening of Harland & Wolff (Appledore) in August 2020, and the acquisition of two ex-BiFab sites in Scotland in February 2021, have expanded the company’s fabrication footprint, particularly in the renewables, energy, and defence sectors. Furthermore, the possession of two of Europe’s largest drydocks, with a potential annual capacity exceeding £500 million, further bolsters the company’s capabilities.
Beyond Shipbuilding: Diverse Portfolio
In addition to its shipbuilding endeavors, Harland & Wolff also spearheads the Islandmagee gas storage project. Once completed, this project is poised to provide a staggering 25% of the UK’s natural gas storage capacity, with far-reaching economic benefits for Northern Ireland.
This latest contract with Cenovus Energy not only highlights the remarkable growth and diversification of Harland & Wolff but also underscores their pivotal role in the global energy landscape. The upgrade of the SeaRose FPSO vessel promises to be a testament to their expertise and capabilities in handling intricate maritime projects.
Source: Harland&wolff
