ASCO

ASCO Group Wins £40M Contracts

Press Release   •   Sep 06, 2010 09:45 BST


ASCO Group’s Norway operation, has been awarded contracts to supply integrated logistics services to Oil majors BP and Talisman Energy.

The combined contracts are worth an estimated £40 million (Nok 400m) over a five-year period.

The Contracts include the supply of logistics services and personnel, including offshore containers, transport and forwarding services and waste management.

The announcement comes just weeks after the Group announced they had been awarded logistics contracts by BP and TAQA in the UK, totalling £30m.

ASCO’s Managing Director of Northern Europe Runar Hatletvedt said, “Both BP and Talisman are very important customers to us and we are delighted they have shown confidence in us by awarding these contracts. As well as securing 50 to 60 jobs, this also provides the basis for possible future investments”.

ASCO Norway has been recently expanding its number of supply bases along the Norwegian coast with five bases located in Farsund, Tananger, Kristiansund, Sandnessjøen and Mongstadbase in Bergen. It has grown from just 35 people to around 100 within the space of just three years, and these contracts will cover the Norwegian shelf for five years plus 3 times 3 year options.

In 2009, ASCO Norway was awarded the supply base contract for the BP Skarv development in Sandnessjøen.

ASCO EMEA Chief Executive Derek Smith said, “Building on recent contract wins, this is tremendous news and is a huge tribute to our staff across the Group. This win also adds significantly to our global reputation as the leading logistics specialists in the Oil and Gas industry”.

ENDS

Further Information from:

David Wallace (UK):                   07790 811396

Runar Hatlevedt (Norway):           +47 94874800

Notes:

ASCO Group works for more oil and gas majors, in more locations around the world than any other oil and gas logistics business. It has bases in US, Canada, Trinidad, Caspian, Norway, Singapore, Holland and the UK.

ASCO Norway has its head office in Stavanger.  It has five bases along the Norwegian Coast and employs 100 people.

BP has operated in Norway since 1920. BP Norway operates four fields on the Norwegian continental shelf – Ula, Tambar, Valhall and Hod. Two large development projects are in the final stages – development of the Skarv field outside Nordland and a new field centre at Valhall.

Talisman Energy established in Norway in 2003 and is currently operating Gyda, Varg, Blane, Rev and Yme fields, in addition to participating interests in Brage, Veslefrikk and Huldra fields.

Liz Marchant

Marchant Communications

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