BiFab win a Premier Oil contract creating 350 jobs

The BBC has reported that Burntisland Fabrications (BiFab) has secured a £145 million North Sea oil and gas contract with Premier Oil which will bring around 350 jobs to the Fife area.

The contract involves BiFab constructing both a 3500 tonne topside module and 8000 tonne jacket for Premier Oil’s Solan development west of Shetland.  BiFab will create structures for the platform at its Methil, Burntisland and Arnish yards, as Premier Oil develops its Solan oil field, west of Shetland.

The Solan field is expected to produce about 40 million barrels of oil, with an estimated initial production rate of 24,000 barrels of oil per day from the fourth quarter of 2014.

The contract is due for completion in April 2014 and will create a total of 350 jobs, with around 40 being based at BiFab’s Arnish yard on the Isle of Lewis.

 

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Scottish Oil Discovery Boosts Shares in Faroe and Dana

Shares in Faroe Petroleum (FPM) and Dana Petroleum (DMX) have enjoyed a boost of 6.3 percent to their share price after the Atlantic Margin, North Sea and Norway-focused explorer announced an oil discovery at the Tornado exploration project, west of Shetland. The well discovered oil and gas in Tertiary reservoir sandstones, and data collection is currently ongoing. As a result, Dana Petroleum saw its shares rise by almost 3%, whilst shares in Faroe Petroleum got a 6% boost. Dana’s chief executive, Tom Cross, stated: “The discovery of hydrocarbons at Tornado is an important result as it lies in an area of the UK Continental Shelf where Dana and Faroe Petroleum have very strong positions as the key independents. We look forward to the sidetrack well to determine the ultimate size of this new field.” This indicates that the discovery may open up a new area for the duo with the potential to create many new jobs in the oil and gas industry in Scotland. To view our current job vacancies in Scotland, please click here.

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