North-east oil service company Aker Qserv has won a contract with BP which could be worth £50million.
The deal, for three years with two one-year extension options, involves providing well services for the energy giant’s operations in the UK North Sea.
Aker Qserv estimates that the contract – which is a renewal of an existing agreement – will generate income of about £10million a year.
The firm, which has had a working relationship with BP dating back to 2003, will continue as the operator’s primary supplier of well-intervention services out of its Portlethen base.
Mads Andersen, executive vice-president for Aker Solutions, said: “Aker Solutions’ well-service business recently signed a contract with BP Norge to provide well-intervention services for its operations on the Norwegian continental shelf. Now Aker Qserv has signed a similar deal for the UK sector of the North Sea.
“This underlines the good strategic fit between our two operations through their complementary footprints and technology portfolio.”
Ciaran Dreelan, a director at Aker Qserv, said: “To secure this contract renewal is testimony to our track record of service delivery and the strength of our relationship with BP.
“Our intention is to sustain and enhance our quality of service, and to do so more efficiently because we are able to draw upon the wider capabilities of the Aker Solutions group.
“It also emphasises the excellent fit between Aker Qserv and the services of Aker Solutions, as we will be deploying further expertise and resources from across the group in terms of the wireline tractor, electrical line and logging equipment elements of the contract.
“The continued relationship with BP will allow us to focus on making its business more sustainable through operations aimed at increasing oil recovery.”
No extra jobs are expected to be created at Aker Qserv – which employs more than 550 people, with operations in the UK and abroad – as a result of the BP contract renewal.
Qserv was founded in 2001 and in July last year revealed a deal with Norwegian group Aker Solutions to become a subsidiary of Aker Well Service.
Aker Solutions employs about 23,000 people across some 30 countries.
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