Sir Jim Ratcliffe’s Ineos Exploration and Production (E&P) has awarded a £10 million contract to Aberdeen engineering and energy advisory firm Apollo.
The four-year deal will see Apollo project managing Ineos E&P’s Hejre oil and gas development in the Danish North Sea.
Denmark recently approved further exploitation of its deepest North Sea oilfield.
Apollo’s contract covers the development of a new platform and subsea infrastructure, as well as “associated complex brownfield modifications”.
Apollo director says Ineos deal showcases firm’s ‘proven ability to deliver results on the global stage’
The company will work across multiple countries, overseeing delivery of the flagship North Sea project.
Apollo business development director Marissa Stephen said: “It’s a privilege to be part of such an expansive greenfield (new) development. Apollo’s partnership with Ineos marks a significant milestone in our journey, showcasing our proven ability to deliver results on the global stage.”
© Supplied by ApolloFull-time headcount at Apollo currently sits at 150, but an ad-hoc associate pool can take the figure to more than 180. The company is finalising its latest annual figures but the current “revenue run rate” is more than £15m.
The firm said its role in Ineos’ Hejre project included the support of its expert team from front-end engineering design work through to first oil.
“It will be a collaborative effort, working closely within Ineos to manage all aspects of engineering and third party involvement,” Apollo said.
It added: “This award builds upon a successful 12 months for the project support and placements division of Apollo’s business, which has achieved over 100% growth.”
‘We look forward to what we can achieve together’ – Ineos
Rasmus Enemark-Rasmussen, of Ineos, said: “We are delighted that Apollo are onboard to provide valuable resource to the project as part of an integrated collaborative team. We look forward to what we can achieve together.”
Apollo’s latest contract comes just a few months after it landed a multi-million-pound deal for a project to repurpose and re-use a giant floating production, storage and offloading vessel in the UK North Sea.
What links Apollo, Ross County FC and Manchester United?
Meanwhile, it creates an indirect link between Scottish Premiership football club Ross County and English Premier League club Manchester United (MUFC).
The Aberdeen firm is owned by Highland businessman Roy MacGregor, chairman of the Dingwall-based Staggies.
Apollo is part of Mr MacGregor’s Inverness-headquartered Global Energy Group.
Sir Jim, Ineos’s multibillionaire owner, acquired a a 27.7% stake in MUFC in a £1.25 billion deal earlier this year.