Bosses at energy service firm Asco Group are celebrating a £63million deal to provide supply base services for BG Group in Tanzania.
Aberdeen-based Asco said the three-year contract would be managed out of the port of Mtwara and employ more than 100 local people.
It will see Asco carry out work for a number of partners, including BG, Statoil, Petrobas, and Ophir, looking to exploit recent major gas finds in the area.
The new contract is the largest to date for Asco in its Middle East and Africa (MEA) region, and chief executive Derek Smith said it was a “tremendous boost” for the firm as it continued to build its profile and reputation in those parts of the world.
It comes just over a month after Asco said it may make more acquisitions this year to fuel its international expansion.
The firm spent more than £50million on five businesses last year, and Mr Smith said more deals were on the horizon.
Recent results from the company showed a swing back into the black last year, with pre-tax profits of £435,000.
This was compared with losses of £10.8million in 2011 due to costs linked to its £255million takeover by private-equity house Doughty Hanson at the end of 2011. Turnover during 2012 was £678.3million, up more than 11% on the previous year.
“Asco has undergone major international expansion over the past two years,” Mr Smith said yesterday.
He added: “We now operate in four key regions – the Americas, Europe, MEA and Australasia.
The company now employs more than 2,000 people at 35 locations in 16 countries, having taken on more than 500 in 2012 as a result of acquisitions including Aberdeen safety training and lifting specialist North Sea Lifting.
Ascoo MEA chief executive Euan Lockhart said the Tanzanian work gave the firm a good foothold in east Africa.
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