DeepOcean Awarded Foinaven Decommissioning Contract

18 June 2026

(Image credit: DeepOcean)

Global ocean services provider DeepOcean has entered into an agreement to support bp in the decommissioning and recycling of subsea equipment at the operator’s Foinaven field, West of Shetland, UK.

Under the contract, DeepOcean will remove ten flexible process risers and three dynamic subsea umbilicals from the former Foinaven FPSO (Floating Production, Storage, and Offloading) location. In addition, DeepOcean will recover a static umbilical. Various amounts of buoyancy, riser protection, clamps, and other appurtenances associated with each riser will also be removed during recovery operations.

DeepOcean will provide engineering, project management and offshore execution for the project that will be managed and executed by DeepOcean’s Aberdeen-based operations in the UK. The offshore scope will be carried out using a high-specification subsea construction vessel operated by DeepOcean.

For a second time, DeepOcean and bp have entered into an innovative sale and purchase agreement governing the delivery of the project. This builds on the successful decommissioning work delivered by DeepOcean for bp at the Don and Miller fields under a similar commercial model.

“We greatly appreciate the opportunity to support bp in another important decommissioning scope on the UKCS. This award reflects a progressive and commercially innovative approach to subsea decommissioning. By building on the successful model previously implemented with bp at the Miller and Don fields, we have established a robust framework that delivers greater efficiency, cost optimization, and operational flexibility for both parties,” said Øyvind Mikaelsen, Chief Executive Officer of DeepOcean.

Foinaven was discovered in 1992, with first oil in 1997. The field is approximately 190 km west of the Shetland Islands within the Faroes/Shetland Trough, in water depths ranging between 330 and 530 meters. Before the FPSO was taken off-station in 2021, the Foinaven asset produced 440 million barrels of oil, double what was expected when initially developed.

“Decommissioning has traditionally been viewed primarily as a cost exercise. At DeepOcean, we see it as an opportunity to apply engineering, technology, and commercial flexibility to improve project outcomes and recover value for our clients,” said Robin Mawhinney, Executive Vice President for DeepOcean’s EMEA region.