Asco ties up £50m deal with Marathon for North Sea support services

South Base, Peterhead
South Base, Peterhead

North-east oilfield support services firm Asco has struck a deal worth more than £50million with Marathon Oil UK for work in the North Sea.

The five-year contract will see Asco provide a range of integrated oilfield services to support Marathon’s Brae field operations.

Commenting on the award, Craig Lennox, Asco’s chief executive for Europe, said: “Asco has supported Marathon Oil for many years and we are delighted to secure a new long term contract with them.

“This contract demonstrates the value of Asco’s integrated service provision within the North Sea and will allow us to build upon our existing strong relationship.”

Operating out of its south base in Peterhead, Asco will lay on quayside services, warehouse management and marine gas oil for Marathon starting next month.

A spokeswoman for Asco said the contract would not result in any additions to its workforce.

The Aberdeen-based company had already pulled off a number of major contract wins this year, including a £100million-plus deal with BP to support the UK oil giant’s North Sea operations.

The company also overcame stiff competition to win supply base and warehousing work for Statoil’s £4billion-plus Mariner project in the UK North Sea.

Asco employs 2,000 people worldwide and last year recorded sales worth £710million.

The firm is owned by its management and London-based private-equity investor Doughty Hanson.