The contract is for bp’s Cypre project off the coast of Trinidad and Tobago.
As an independent OEM for riser systems and connectors, Aquaterra Energy said it will deliver an end-to-end managed service that covers the entire process.
The system will be operated from a jack-up rig to support gas exploration across seven development wells at a water depth of around 80m.
In addition, the contract involves collaborating with local fabricators, transferring knowledge to local teams and incorporating in-country content.
Drilling activities are scheduled to start in 2023, with gas production expected to begin in 2025.
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Cypre is a conventional gas development operated by bp Trinidad and Tobago, a subsidiary of the UK-based company.
The final investment decision for the project, which is 70% owned by bp and 30% by Repsol, was made in 2022.
In addition, Aquaterra Energy will provide an integrated equipment package encompassing rig modifications and personnel to ensure efficient offshore operations and safety.
Aquaterra Energy managing director James Larnder said: “This contract cements our position as one of the leading riser system specialists globally.
“bp chose us because we could deliver a fully integrated approach with access to solution-driven engineers. This is one of the reasons why our riser project experience continues to grow, and I am looking forward to the next part of that journey.”