NEO Energy will repurpose and redeploy an existing FPSO for the redevelopment of the Greater Buchan Area (GBA). Credit: Apollo.

UK-based oil and gas company NEO Energy has awarded a front-end engineering design (FEED) study contract to energy services provider Apollo.

The FEED contract is for the planned redevelopment of the GBA on the UK Continental Shelf.

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Under the plan for the GBA, NEO Energy will repurpose and redeploy an existing FPSO unit.

The scope of the contract will cover FPSO asset repairs and improvements as well as process and marine-related late-life extension activities.

Electrical infrastructure will also be integrated into the FPSO enabling it to be powered by renewable sources of energy.

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In addition to meeting emission reduction targets outlined in the North Sea Transition Deal and the UK Government’s Net Zero Strategy, electrical infrastructure will assist the asset’s long-term sustainable performance, Apollo said.

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Apollo managing director Richard Bell said: “We are pleased to secure this contract from NEO Energy and look forward to working in partnership to deliver this critical FEED study.

“The contract underpins the competency and quality of the engineering team at Apollo. This is a unique and exciting project, with the aim of repurposing and redeploying an existing asset with the latest technology and innovative infrastructure.”

Serica Energy and Jersey Oil & Gas are NEO Energy’s partners on the GBA project.

The GBA comprises the P2498 and P2170 licences and has multiple oil and gas accumulations around 150km north-east of Aberdeen.

Recently, Serica Energy reached an agreement to buy a 30% stake in GBA from Jersey Oil & Gas.

Under the two-phase redevelopment plan, the GBA partners will focus on the Buchan field in phase one and the J2 and Verbier discoveries in phase two.

In June 2023, Jersey Oil & Gas sold a 50% stake in GBA licences to NEO Energy.