BP Awards £500 million contract to oil services company

It has been announced that oil services company Techchip have won a multi-million pound contract with with oil giants BP.

The contract will include the replacement of the Schiellion floating production and storage vessel, and will take place off the west coast of Shetland.

Based in Paris, Techchip will oversee the project from its Aberdeen office.

It is believed that the work will see an additional 450 million barrels of oil produced by 2035.

The firm currently employs 30,000 people in over 48 countries.