ASCO said it will divest the majority of the company's non oil and gas-related waste services following a strategic review.
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The chief executive of Asco said a period of $50 oil could be a “very good” thing for the North Sea as companies will be forced to work more collaboratively and reduce cost. Alan Brown, who took the top job at the international oilfield support services firm last year, said the lifespan of the North Sea would be “much shorter” unless there was greater efficiency amongst operators and the supply chain. He said the industry must be prepared for the year-long dip in price per barrel to be the “new normal”.
Bowleven, the Scottish oil and gas exploration group focusing on Africa, has appointed former Asco chief executive Billy Allan as a non-executive director and chairman designate.
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.
Oil giant Shell has chosen Asco to run its Darwin supply base for its Prelude floating LNG project. The contractor will begin a gradual ramp-up from later this year at the facility as part of a five-year deal. ASCO will be handling Prelude's operations and maintenance logistics requirements.
Asco has won a contract with BP worth more than £100million to help support the oil major’s North Sea operations. The five-year deal will see the Aberdeen-based company provide services for supply-base and warehouse operations, waste management and freight forwarding services. Last month Asco was awarded the contracts for supply based and warehousing services for Statoil’s Mariner field in the North Sea.
Statoil has awarded the contracts for supply base and warehousing services for the Mariner field to Asco UK. The base and warehousing facility for Mariner will be operated by Asco from Peterhead, north of Aberdeen. The scope of the contract awarded includes the provision of supply base services, including personnel, local transportation, marine gas oil, quayside services and a nearby warehousing facility. Asco will carry out the services for the Mariner field under two five year contracts, anticipated to start during the first quarter of 2016. The contracts also include a pair of two year extension options.
ASCO has won a supply base contract for BP’s Great Australian Bight Exploration program. The supply base at Finders Port in Adelaide will be managed by the company in partnership with Finders Logistics. Beginning in 2016, BP’s exploration program will include four wells within its offshore permits, which are located 300 kilometres southwest of Ceduna, South Australia. ASCO Australasia chief executive, Matt Thomas, said: “The Great Australian Bight is a challenging new global frontier in oil and gas exploration and ASCO will bring its significant international experience to support BP’s operations.