Scottish firm purchases ‘renowned' floating oil platform
Amplus announced the selection of Astican Shipyard in Las Palmas de Gran Canaria to undertake a major multi-million-pound work scope in preparation for the redeployment of 'one of the offshore industry's most iconic Floating Production, Storage, and Offloading (FPSO) units'.
The Petrojarl I - most recently in operation offshore Brazil - will undergo a "critical reactivation and readiness programme" at the Spanish facility.
As the "most frequently redeployed FPSO in the industry, the vessel continues to attract strong market interest thanks to its renowned operational flexibility and proven performance".
The vessel from above. (Image: Amplus) Amplus Energy said it has now completed formal closure on the purchase of the Petrojarl I. Amplus also welcomed the new lay-up team from strategic partner V.Ships Offshore, who are now supporting safe and efficient operations during the vessel's reactivation.
Earlier this year, Amplus announced its agreement to acquire the Petrojarl I from Altera Infrastructure, marking a significant milestone in the company's evolution and introducing a unique, high-value asset into its portfolio.
Steve Gardyne, managing director at Amplus, said: 'The addition of Petrojarl is a transformational step for Amplus. It takes us beyond our established position as a provider of field development floating solutions into direct asset ownership, a move that significantly enhances our strategic capabilities and strengthens our ability to meet growing client demand.
'As we prepare for the vessel's next chapter, Astican Shipyard offers the services and expertise needed to support a complex, fast-paced mobilisation. We're pleased to be working together on this important phase, and we're focused on ensuring a safe, efficient turnaround that gets the unit back in the field quickly.'
Amplus is in active discussions with several field owners and operators regarding the Petrojarl I's next deployment. The FPSO is well-suited for early production system applications, extended well tests, and standalone marginal field developments.
Mr Gardyne also said: 'We have strategic plans to expand our owned fleet, with the ambition to become the redeployment vessel contractor of choice. There's a clear market opportunity for a trusted, entrepreneurial FPSO contractor operating at the flexible, niche end of the spectrum - offering fit-for-purpose units at highly competitive rates, backed by a leadership team with deep operator experience and supported by a scalable and aligned network of subcontractors.'
From prisons to property: 'Success is building your own ladder'
Monday Interview
Duncan Ure is the founder of The Portfolio Brokers, which specialises in the sale of tenanted property portfolios, and is also part of Compass Estates Group, a growing agency covering the whole of Scotland.
Compass Estates is headquartered in West Lothian and Mr Ure lives and works in Castle Douglas covering residential property sales locally in Dumfries & Galloway.
Through The Portfolio Brokers he helps landlords maximise their returns with a tailored off-market approach.
MONEY HQ 💷
What is the seven year rule in Inheritance Tax for UK?
This article appears as part of the Money HQ newsletter.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mirror
5 hours ago
- Daily Mirror
Four European countries 'outraged' over new airline luggage rules passed by EU
Last week, the Council of Europe made two major decisions on the future of commercial air travel. The first was on compensation rights, and the second related to free hand luggage Four European countries are outraged at new rules that could limit how much delayed passengers can claim in compensation and when airlines can charge passengers for carrying hand luggage. Last week, the Council of Europe made two major decisions on the future of commercial air travel. The first was on compensation rights. The Council decided that passengers on short-haul flights would have to be delayed by four hours or more before they could claim compensation, rather than the current three. For long-haul flights, delays will have to be six or more hours. The good news for passengers is that compensation for those delayed on short-haul flights will increase from €250 (£211) to €300. However, compensation for long-haul flights will be cut from €600 to €500. The changes were first tabled 13 years ago and must still be approved by the European Parliament before they become law. The European Consumer Organisation, the BEUC, has argued that the changes will be a huge blow for consumers and deprive 'the majority of passengers from their compensation rights". The BEUC claims that most delays are between two and four hours. While the UK now sets its own compensation rules following Brexit, the changes will impact Brits if they come into force, as it will apply to passengers taking flights with an EU carrier. This means it could affect a passenger travelling to and from an EU country on an EU airline. The second decision relates to baggage allowance. Under the new rules, the concept to free luggage will be limited to 'personal items' that can be placed under the front seat. That will leave other stowed cabin bags exposed to charges. Spain, Germany, Slovenia, and Portugal voted against the changes, warning that they could mean passengers end up paying extra for almost any cabin bag. The Spanish government criticised the new rules as 'too restrictive.' Spain's Minister for Social Rights, Consumer Affairs and the 2030 Agenda, Pablo Bustinduy, described the changes as an 'outrage'. The political agreement, adopted by a qualified majority in the EU Council, was voted against by Spain, Germany, Slovenia and Portugal. Minister Bustinduy argued that the new rules would violate consumer rights and "only strengthen the power and profits of airlines." If the rules are accepted, then Ryanair would have to change its free hand luggage policy. Right now, the budget Irish airline require customers to have a bag no larger than 40x20x25 centimetres, which must fit under the seat in front. Under the new rules, the dimensions will be changed to 40x30x15 centimetres. That means Ryanair would be obliged to allow a bag 10 centimetres wider, but could also reduce the depth currently allowed by 10 centimetres.
Daily Record
21 hours ago
- Daily Record
Rising food prices in Majorca and Ibiza may deter Brits from Balearic holidays
Food prices on the Balearic Islands have soared alongside the number of tourists visiting the archipelago over the last five years - with the cost of essentials including oil and bottled water spiking by more than 50% Food prices on the Balearic Islands have rocketed in tandem with the surge in tourists visiting the archipelago over the past five years - with the cost of essentials such as oil and bottled water skyrocketing by over 50%. While local protests have primarily centred around the island group's beleaguered housing market, believed to be due to an increase in short-term lets and second-homeowners, a burgeoning cost-of-living crisis is also being experienced in this popular holiday destination. Worries about affording everyday food items surpassed overtourism and the housing market as the most urgent concern among residents, according to a survey by the Balearic Institute of Social Studies, with a staggering 84% of respondents describing it as a serious issue, reports the Express. Alfonso Rodriguez, president of the Consubal consumers association, revealed that the cost of oil had shot up by 67% since 2020, with sugar, lamb, bottled water and juice all also increasing by around 50%, as reported by the Majorca Daily Bulletin. Coupled with growing discontent and a new wave of planned protests, these escalating costs could deter international visitors from choosing Majorca and Ibiza for their summer getaway - with research indicating a decline in both domestic and foreign spending. Data released by restaurant association Restauración CAEB showed a revenue slump in Majorca's hospitality sector by up to 20% during the first quarter of 2025, with both Spanish travellers and those from abroad seemingly spending less than the previous year. "If spending in our sector decreases, it will inevitably affect the entire local economy," warned Juan Miguel Ferrer, the president of the association. The rise in food costs, which some suggest may dampen tourist expenditure, could be attributed partially to a swell in wealthy expats settling on the islands – foreigners now account for nearly half the population across the archipelago. Owing to its geographical position, the Balearic Islands are dependent on importing goods. This, combined with escalating inflation and increasing costs for raw materials, predisposes the locale to higher food expenditures. Subsequently, this scenario might compel business proprietors to relay the financial strain to their clientele – a move manageable by well-off British visitors but likely to exacerbate the plight of local dwellers already contending with steep rent bills. "Majorca has become uber-expensive for the average consumer, and is perhaps in danger of outpricing itself in favour of caressing the plump wallets of the super-rich," commented reporter Peter Clover in the Majorca Daily Bulletin during the previous summer. Clover pressed on with his point: "I'm almost certain that somewhere along the line, some retail entrepreneurs are taking the proverbial and raking in the profits, while happily shafting the customer". However, Clover concluded with a stark reminder: "But that still means that as an island, we take a harder hit than most!" The Balearic locals are raising the alarm on living space, an institute's study shows, with a striking 72% flagging it as a "great concern", and two-thirds out of 1,300 respondents voicing deep fears over the persistent effects of excessive tourism.
Belfast Telegraph
21 hours ago
- Belfast Telegraph
Opening of new fashion store in Belfast city centre ‘adding to listed building regeneration'
Spanish fashion label Mango has opened a new store in Belfast city centre development Ross's Court. Mango opened on Saturday at the development, which used to house Argos, after relocating from Victoria Square shopping centre.
