A new multi-million-pound deal with a Norwegian energy giant “will help secure” more high profile business for an Aberdeen-headquartered firm, its business chief said last night.
Sinomine Specialty Fluids – formerly Cabot – recently agreed a £31 million deal to supply specialist drilling fluids to Equinor’s Norwegian North Sea operations.
Christian Busengdal, the European business director, last night said the contract was “really good news for the business”.
“There will be no change in Aberdeen, but rather this will help to secure our business in both the north-east of Scotland and our Bergen office in Norway,” he said.
“Each of our offices are working hard to service our customer base on both sides of the North Sea.
“This is really good news for the business and is also a continuation of an existing relationship where we’ve supported Equinor from Aberdeen and Bergen.”
The Aberdeen firm was sold to Sinomine for around £103m in July 2019, which saw it exchange Cabot for Sinomine Specialty Fluids.
It was bought by Hong Kong firm Sinomine Rare Metals Resources – a subsidiary firm of Beijing-headquartered Sinomine Resource Group.
Its core business is in geological exploration, mining investment and base metal chemical manufacturing.
Employing around 25 staff in Tullos, Aberdeen, the firm also has offices in Norway, Singapore and Houston, Texas.
It also controls the world’s largest pollucite mine in Manitoba, Canada.
Sinomine Resource Group reportedly owns around 20 subsidiary firms worldwide.
The deal with Equinor will see Sinomine provide services to the Norwegian firm’s Kvitebjorn, Gudrun, Visund, Vega and Gullfaks fields. The deal will run to 2022 with five, two-year extension options.
Sinomine also said Equinor is “considering” using the fluid at its huge Martin Linge and Snorre satellite fields.
Mr Busengdal added: “Our team is thrilled to receive this new long-term frame agreement and to continue playing a part in Equinor’s success.
“It’s very rewarding to see an operator truly recognise the combined value of drilling and completing in cesium formate fluids.”
Recommended for you
