DeepOcean secures North Sea subsea decommissioning contract from bp

Subsea services provider DeepOcean has been awarded a contract by bp to manage the recovery, removal, and recycling of flexible process risers and subsea umbilicals at the decommissioned Foinaven field located west of Shetland.

Energy major bp has contracted global ocean services provider DeepOcean to execute decommissioning and recycling operations at the Foinaven field situated west of Shetland, UK. According to corporate disclosures, the scope of work involves the removal of ten flexible process risers and three dynamic subsea umbilicals from the previous floating production, storage, and offloading location, alongside the recovery of a static umbilical and associated ancillary equipment such as buoyancy units and clamps.

DeepOcean, an international specialist in subsea engineering, trenching, and infrastructure support, will run the project out of its Aberdeen operations. The company will oversee engineering, project management, and offshore execution, deploying a high-specification subsea construction vessel to handle the physical recovery. The initiative aligns with tightening regulatory mandates in the UK North Sea, which require oil and gas operators to systematically dismantle aging offshore infrastructure and maximize material recycling.

This development carries significant implications for the offshore energy supply chain and environmental service providers in Europe. As mature basins in the North Sea transition toward late-life management, asset retirement contracts are providing sustainable revenue streams for specialized subsea engineering firms. For institutional investors and industry stakeholders, this project underscores the growing capital expenditure being reallocated from upstream exploration to environmental liabilities, reflecting a broader structural shift toward compliance-driven decommissioning frameworks within the marine infrastructure market.