Altera hiring workers to revamp Knarr FPSO for Rosebank

Altera Infrastructure has launched an employment drive as it prepares for the redeployment of the Knarr FPSO.

The offshore services group is on the lookout for “candidates within several disciplines” to prepare the vessel for use on Equinor’s (OSLO: EQNR) Rosebank field.

That could include making Knarr electrification ready, fundamental to the Norwegian oil giant’s goal to keep emissions from the field to minimum.

It was announced last week that Aker Solutions (OSLO: AKSO) and Dubai’s Drydocks International had won a deal worth up to £330.5m to upgrade the FPSO.

It will cover new build, demolition and life extension services for the vessel to be kept on the field for 25 years without drydocking.

The Knarr FPSO was transported to Aker Solutions’ yard in Stord in August 2022, and is planned to be towed to Dubai during the second half of 2023.

Those interested are being signposted towards one of the company’s recruitment agencies.

It comes just days after the Aberdeen-headquartered group emerged from Chapter 11 bankruptcy, with work at Rosebank a “key driver”.

© Supplied by Altera Infrastructur

In a bid to restructure more than $1.5bn of debt, Altera entered Chapter 11 with the US courts last year.

By declaring bankruptcy, firms can continue to trade and reorganise while paying off debts – it is a process that’s been used by many oil and gas firms in recent years.

Altera, which supplies production vessels to the oil and gas sector, said it has converted more than $1bn of debt into company equity.

The company has its main base in Westhill, on the outskirts of Aberdeen, and employs more than 2,000 people globally.

Last year Altera said it had 130 employees in the UK: 44 onshore in Aberdeen, alongside nine on the Voyageur Spirit and 77 on the Foinaven FPSO, now sent for decommissioning.

Rosebank

Rumours first emerged last year that Altera and Equinor had struck a deal to use the Knarr FPSO to develop Rosebank.

The vessel is due to be deployed at the West of Shetland field, estimated to hold hundreds-of-million barrels of oil, for nine years.

Options are in place for up to 25 years, once the field clears regulatory approvals.

Equinor expects to take an FID on the scheme this year.

The contract also allows liquidity for “substantial capex upgrades to the FPSO” – Equinor has already discussed heavy upgrades to allow the Knarr to be ready for electrification.