An Aberdeen-headquartered engineering and construction firm has secured a multi-million pound deal with a North Sea operator despite industry “challenges”.
PD&MS has inked a three-year deal with Spirit Energy for modification work across the firm’s central and southern North Sea exploration and production (E&P) business.
The contract, for an undisclosed multi-million pound sum, will see PD&MS carry out both onshore and offshore campaigns.
PD&MS refused to disclose how many jobs would be created as part of the deal.
It has worked with the Spirit Energy since 2018, providing decommissioning support in the Irish Sea’s Morecambe Bay area.
Simon Rio, PD&MS chief executive said:“PD&MS remains committed to the UKCS and despite the challenges that face our industry right now, we are confident that our highly flexible and progressive offering across the full asset lifecycle can support operators to deliver safe and cost effective solutions over the longer term.
“Our latest win with Spirit Energy is testament to the strength and depth of our business and we look forward to working in partnership together in the years ahead.”
PD&MS has operations in Aberdeen and Baku in Azerbaijan.
It is owned by international private-equity investor Inflexion, which acquired it in July 2014 in a deal worth more than £50million.
PD&MS vice president of operations and projects, Liam O’Neil said his firm had the “business stability, skill sets and innovation required to deliver complex projects” in this three-year campaign.
Donald Martin, contract owner for Spirit Energy added: “Complex modification projects have the potential to generate significant value through maximising the life of our assets.
“Together with PD&MS we are working to develop credible and predictable investment opportunities which will enhance recovery, lower operating costs and optimise our project execution model.”