Apollo announces FEED study contract award for NEO Energy’s FPSO redevelopment

24/11/2023
Western Isles FPSO

APOLLO, a leading energy advisory and engineering consultancy, is delighted to announce the award of a significant contract from NEO Energy for a Front-End Engineering Design (FEED) study. No exact figure has been released but it is thought to be in the region of £2m. This crucial study will support NEO Energy’s planned redevelopment project in the Greater Buchan Area. 

NEO Energy, an Aberdeen-based full-cycle energy business, is embarking on an ambitious project to repurpose and redeploy an existing Floating Production, Storage, and Offloading (FPSO) vessel for their flagship project. The FEED study, provided by Apollo, will play a pivotal role in this exciting venture.

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Apollo, which is part of Global Energy Group, is known for its extensive experience in delivering innovative and sustainable solutions across various energy sectors, including oil and gas, hydrogen and carbon capture, nuclear, and offshore renewables.

The FEED study for NEO Energy, which is set to support up to 40 staff, will cover asset repairs and modifications for the FPSO, as well as late-life extension procedures, from a process and marine perspective.

In addition, there is a requirement for complex electrical infrastructure to be integrated into the vessel, ensuring the FPSO is ‘electrification ready’ and can accept power from renewable sources. This will support the asset’s long-term sustainable performance and align to emission reduction targets set out in the North Sea Transition Deal and the UK Government’s Net Zero Strategy.

Richard Bell, Managing Director of Apollo, 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.”

With global energy demands rising and the transition to a low carbon economy, Apollo is committed to assisting clients to achieve their net zero ambitions across the project lifecycle and enable security of supply in a dynamic environment. 

Global Energy Group continues to be at the forefront of the national energy transition supporting the UK’s net zero and energy security targets, while maximising opportunities arising from the UK offshore energy industry. 

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