Modern American Recycling Services Europe (M.A.R.S.) has won a contract for the dismantling and "green" recycling of Teekay’s Petrojarl Foinaven FPSO.
The 250-meter-long FPSO produced oil at BP's Foinaven area west of Shetland until it recently reached the end of its 25-year service life.
The Petrojarl Foinaven FPSO was commissioned in 1996 and has been on location in the Foinaven area, since 1997.
The Foinaven field was the first deepwater development west of Shetland. The Foinaven field sits around 120 miles west of the Shetland Isles. The first oil from the field started flowing in November 1997.
Under the contract, M.A.R.S. will be responsible for the engineering, preparation, dismantling, and green recycling of the unit. The Petrojarl Foinaven is expected to arrive at M.A.R.S. Europe in Denmark in October 2022.
"We are glad that Teekay is returning to M.A.R.S., Europe, in the Port of Frederikshavn to retire and green recycle the Petrojarl Foinaven FPSO in an environmentally friendly manner," M.A.R.S. said. Financial details were not disclosed.