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The Herald Scotland

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 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.