The identity of the floating production, storage and offloading vessel earmarked for the Buchan oilfield project in the UK North Sea has been confirmed by the floater’s owners.

In a joint statement, Dana Petroleum and Neo Energy said a sales and purchase agreement has been signed under which Neo will acquire Dana’s full equity in the Western Isles FPSO.

“Neo Energy intends to redeploy the FPSO at the Buchan field redevelopment.