Drydocks World, a subsidiary of DP World, has formed a joint venture with Aker Solutions. The JV has been chosen by Altera Infrastructure for the upgrade of a FPSO vessel in the UK oil and gas sector. Drydocks World and Aker Solutions have combined their expertise and resources to offer comprehensive services to the global energy industry. The JV brings together Drydocks World’s marine and offshore services and Aker Solutions’ integrated solutions, products, and services.
Aker Solutions will manage the detailed design and procurement of equipment in Norway, while Drydocks World will oversee fabrication and construction at their yard in Dubai. The division of responsibilities reflects the strengths and capabilities of both companies in the JV. The joint venture between Drydocks World and Aker Solutions has secured its first contract with Altera Infrastructure. The contract involves upgrading, refurbishing, and electrifying the FPSO, the Petrojarl Knarr.
The upgrades will allow the Petrojarl Knarr to operate in the Rosebank field for 25 years without the need for drydocking. This will greatly improve its efficiency and longevity in the field. The Petrojarl Knarr, owned by Altera Infrastructure, is currently at the Aker Solutions yard in Norway. It will be towed to Dubai later this year, where the joint venture will commence engineering, procurement and construction work. The work is expected to be completed by the end of 2025, according to Trade Arabia News.
The contract between Drydocks World, Aker Solutions, and Altera Infrastructure was signed in Dubai at DP World’s Head Office. The signing was attended by H.E Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World and Chairman of Drydocks World, Sturla Magnus, Executive Vice President at Aker Solutions, and Arne Hygen Tørnkvist, EVP of Altera Infrastructure.
Sultan Ahmed bin Sulayem expressed his excitement about the joint venture, saying “This joint venture between Drydocks World and Aker Solutions will deliver world-class maritime engineering and construction solutions to the global energy industry. The sector needs smart, collaborative partnerships like this to ensure sustainable production and to successfully transition equipment and vessels for the future. Today’s announcement is an important step forward”.
Drydocks World-Dubai CEO Captain Rado Antolovic said: “Based on our strong prior working relationship and the aligned cultures of each partner, the new joint venture between Drydocks World and Aker Solutions will bring the shared strengths and values of both companies and provide a range of solutions including engineering, procurement and construction to a global market.”
Akers Solutions CEO Kjetel Digre said: “Collaboration and partnerships are at the core of how we work. In Drydocks World-Dubai, we have a world-class partner in developing solutions, and we look forward to continuing our long-term relationship by delivering jointly towards the Rosebank oil and gas field development project.” Tørnkvist expressed delight at signing this contract on behalf of Altera, the owner of the Petrojarl Knarr FPSO. “The FPSO will operate for up to 25 years in the most challenging environment on the planet, I see this as a start of a strong and long-term relationship with Drydocks World,” he added.
