New decommissioning project
11.2.2026 15:41:57 CET | AF Gruppen ASA | Press release
AF Offshore Decom, a company within AF Gruppen, has signed a contract with Ithaca Energy for the engineering, receipt, cleaning, dismantling, and recycling of a floating storage unit (FSU) from the UK sector of the North Sea.
The vessel has a total weight of approximately 24,000 metric tons and will be received at AF Environmental Base Vats in 2026. Contract value is in the range of NOK 350-400 million excluding VAT.
“We are very pleased to have been awarded a second major contract by Ithaca Energy following the award of the FPF-1 asset in December 2025. As a result of the awards, AF Environmental Base Vats will receive close to 50,000 tons of floating production and storage facilities from Ithaca Energy in 2026. The two units will, after initial preparations, be loaded onto our yard in a combined float over and load in operation, consistent with earlier similar projects at AFEBV. The units will be cleaned, dismantled and thereafter the steel will be repurposed, upcycled and recycled creating several circular material solutions for the agriculture, construction and civil industries in the Nordic region. We thank Ithaca Energy for their recognition and look forward to delivering a unique and truly sustainable decommissioning solution for these large floating assets,” says Lars Myhre Hjelmeset, EVP Offshore at AF Gruppen.
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Contacts
Lars Myhre Hjelmeset
Tel:+ 47 970 39 084LarsMyhre.Hjelmeset@afgruppen.noImages
About AF Offshore Decom
AF Offshore Decom is a specialized contractor offering bespoke decommissioning solutions for the global offshore energy market.
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