The new Glen Lyon FPSO has been officially named in Ulsan, Korea, in a ceremony attended by BP and partners.

The new FPSO vessel, which is scheduled to be installed in 2016, measures 270 metres long by 52 metres wide.

It replaces the Schiehallion FPSO, which started production in 1998 and was removed in 2014 to make way for Quad204 subsea works.

Quad204 is the £3 billion redevelopment of the Schiehallion and Loyal fields, located 175 km west of Shetland and 15 km north of the Foinaven field.

The project presents one of the most complex engineering challenges BP and its partners have ever undertaken.

The Quad204 project includes a new FPSO Glen Lyon, renewal of much of the subsea infrastructure network to rejuvenate the field, and an extensive drilling programme.

The new FPSO has a storage capacity of 900,000 barrels of oil and is expected to process 130 thousand barrels of oil and 220 million standard cubic feet of gas per day. The Quad204 project will extend production beyond 2035.

Installation of the new subsea pipelines and facilities began in 2015, and according to BP, all of the new pipelines and a number of new structures will be installed this year, along with pre-installation of the new flexible risers.

Technip’s UK entity scooped a contract, worth approximately €600 million (around £500 million), to develop the subsea infrastructure for the Quad204 project.