Bosses at Sparrows Group said yesterday that a North Sea contract renewal would safeguard up to 200 jobs at the Aberdeen crane engineering company.
A spokesman for Sparrows said BP had agreed to renew the mechanical handling and crane management deal for an initial five years.
Optional extensions that would take the agreement through to 2025 have been included.
Sparrows will operate and maintain all 21 of BP’s pedestal cranes on eight North Sea assets, including the soon-to-be-commissioned Clair Ridge platform and Glen Lyon FPSO.
Sparrows will also provide training and engineering support.
The company has serviced BP’s North Sea cranes since 1975, the year it first sent staff to the Forties Alpha and Charlie platforms.
The 200 jobs that will be secured include onshore and offshore positions.
In January 2016, Sparrows said it was reducing its workforce, with up to 90 people expected to lose their jobs after oil prices plunged below $30 a barrel.
Sparrows currently employs about 900 people in the Granite City.
Sparrows chief executive Stewart Mitchell said: “Reaching this impressive milestone with BP is something we are very proud of.
“We have built an enduring relationship with them, which began in the very early years of the North Sea, based firmly on true partnership.
“To be involved as the new generation of platforms come online is hugely satisfying and underlines that there is a lot of life left in the North Sea.
“Over the years, we have together developed and implemented best working practices, with a true spirit of collaboration focused on performance and safety.”
Founded in Bath in 1946, Sparrows is owned by Jersey-registered Hawk Caledonia.