OILFIELD equipment specialist Titan Torque Services has won a three-year contract to support UK North Sea operations of Premier Oil.
The Aberdeen company will perform all bottomhole assembly make-up and breakout and pressure-testing work in support of Premier’s drilling programme in a deal worth up to £500,000.
The deal, with two one-year extension options, will also involve the deployment of Titan’s award-winning drillbit protector.
Keith Gaskin, managing director of Titan, said: “We already provide services to many key North Sea players, but this is our first contract with a larger operator so it represents a significant breakthrough for us in our market.
“Further, we are pleased to benefit from Premier’s objective of using local businesses whenever possible in support of its operations; an approach that can only be encouraging to the wider supply chain in the north-east as Premier looks to develop its UK presence.”
Titan has been shortlisted in the research and development category at the Northern Star Business Awards, organised by Aberdeen and Grampian Chamber of Commerce.
Winners will be announced in the Press and Journal Arena at Aberdeen Exhibition and Conference Centre, on Thursday, September 23.
Titan’s drillbit protector won the Wood Group Award for Innovation at the 2010 Grampian Awards for Business Enterprise.
Titan is aiming to achieve turnover of £2million in this financial year.
It was formed in 2008 and doubled the size of its site at East Tullos Industrial Estate recently to 10,000 square feet to manage its growth.
The company’s workforce has now expanded to nine and is expected to rise again next year.
