Mike Pettigrew, managing director of future business for Babcock, said: "Today's announcement is great news for our Rosyth facility and demonstrates our capability to operate within the offshore energy sector.
"While our commitment and focus on the delivery of the Queen Elizabeth-class programme remains unchanged, this project presents us with excellent opportunities to enhance the utilisation of our facilities and resources here on the Forth.
"This is a multi-faceted technical programme which will sustain over 100 positions and provide training and development opportunities here at Rosyth. In addition, we will continue to involve our apprentices in exciting and specialised areas of our operations, strengthening the skills base of our next generation of engineers."
Andrew Train, BP Quad 204 offshore programme director, said: "The Quad 204 project is a major investment in the North Sea for BP and its partners, and this is a key contract for the delivery of the subsea production system.
"We are looking forward to working collaboratively with Babcock and safely delivering high quality and reliable subsea structures which will help to extend the field life of the Schiehallion and Loyal fields."