Aberdeen-based oil and gas explorer Xcite has signed a letter of intent with Norwegian firm Ocean Installer for subsea work on the Bentley field.
Ocean Installer – launched last year by a team of former Subsea 7 staff – would carry out the installation of two oil export pipelines, each of 1.3 miles, from the Rowan Norway jack-up to a shuttle tanker under the agreement.
“We are very pleased with this letter of intent from XER (Xcite Energy Resources),” said Ocean Installer chief executive Steinar Riise.
He added: “This is an important milestone for Ocean Installer as the contract marks our entry into the UK subsea market.”
The work is expected to start in April 2012 using a subcontracted vessel from Reef Subsea Power and Umbilical.
Bentley is about 100miles east of Shetland.
Xcite is working on its phase 1A of developing the field, which will see one production well with two laterals drilled from the Rowan Norway jack-up rig and producing across the jack-up prior to pipeline transfer to a dynamically-positioned shuttle tanker.
Rowan Norway was towed away from near Banff on the north-east coast on Monday to head out to the field.
Ocean Installer, which is backed by private equity outfit Hitecvision, has said it is looking to open a base in Aberdeen in the second quarter of this year.