Aberdeen decommissioning firm Cutting Underwater Technologies (CUT) has landed a key, four-year contract with heavy lift specialist Heerema Marine Contractors.
It comes as the Bridge of Don-based CUT, a provider of cutting services for offshore assets ahead of removal, is on track for a predicted turnover of more than £5.1m in 2022.
That would represent 10% revenue growth for the year, building on a 31% boost the prior year, management said.
CUT has signed a framework agreement with Heerema for worldwide services, having carried out work on numerous platforms over 2022 including the Brae Bravo, Murdoch and Ketch projects in the North Sea and Kinsale in the Celtic Sea.
Kinsale was the largest project during the year, with 165 “cuts” completed, and the firm has been adding headcount and equipment to its roster in Aberdeen to meet demand.
Business development manager Bruce Sinclair said: “This four-year award is a testament to the fantastic performance of the whole CUT team, consistently achieving the highest standards and surpassing expectations.
“2022 was a particularly satisfying year for CUT and HMC, with successful cutting services completed on the Brae Bravo, Kinsale, Murdoch and Ketch projects. CUT look forward to completing a number of projects for HMC in 2023 and beyond.”
CUT has completed over 1,000 projects to date, with 90% of its work coming via decommissioining.
As well as the UK, the Aberdeen firm has recently been carrying out work for clients in Australia.
Mr Sinclair added: “We have seen a significant increase in demand for our services due to the track record of our equipment, expertise of our personnel and the unique ability to cut the very largest targets.
“The outlook for oil and gas decommissioning is extremely positive, but it has also brought huge satisfaction to see awards provided for both renewables decommissioning and installation projects. This will represent a larger percentage of our business in the years to come, and is a sector we intend to support closely.
“This award from Heerema is the icing on the cake of a very successful 2022. We wish all our clients a very Merry Christmas.”