Oilfield services giant Expro has launched its OTC exhibition campaign with the announcement of a £30million ($45million) contract in Canada with Statoil.
Expro, which last year dominated the annual Offshore Technology Conference in Houston with rumours it was the subject of a £3billion buyout by industrial giant GE, said the four-year contract comes after over 15 years of working in Atlantic Canada.
The deal will see Expro delivering a range of well testing services on Statoil’s massive Bay du Nord discovery on the Flemish Pass Basin offshore Newfoundland.
It is the firm’s second significant deal with the Norwegian oil giant in recent months.
In January, Expro said it had won a £132million contract to provide services to Statoil on the Norwegian Continental Shelf (NCS).
The latest deal in Newfoundland will include the provision of surface well testing and subsea safety systems, drill stem testing tools, tubing conveyed perforation, downhole sampling and on-site chemistry services.
Expro is well established in eastern Canada, providing well testing and subsea services for clients from its operational facility in Paradise, Newfoundland, which opened in 2012.
Mark Enget, Vice President – North America, comments: “This project will allow Expro to build on our strong global relationship and success working with Statoil.”
Its relationship with Statoil saw the firm invest £6.6million in a new base in Tananger, Norway, which is due to open this summer. The 205,000-square-feet facility will consolidate Expro’s three existing locations in Stavanger, complemented by offices in Bergen and Haugesund.
Expro is exhibiting at OTC in Houston again this year showcasing its services and technology as well as offering a schedule of technical presentations.
The firm has not been untouched by the oil price crash.
In April Expro has said it will be making 60 redundancies in the UK, with “the majority” in the Aberdeen .
The company said job losses “could no longer be avoided” after a slump in the value of oil.
The firm employs more than 5,400 people across 50 countries.
The firm was snapped up by private equity firms Candover, Goldman Sachs and Alpinvest in a deal worth £1.8billion after an intense bidding war with Halliburton in 2008. Current owners include Goldman, Alpinvest and Arle Capital Partners, which manages investments formerly held by Candover.
Expro was set up in Great Yarmouth in 1973 and produced first oil in the North Sea Argyll field two years later.