The contracts are for the provision of Wireline and Well Test services across Shell EPE's operations. Expro has been Shell's incumbent contractor for several years and these awards increase the scope with some additional work in UK Southern North Sea and Norway.
Through these contracts, Expro will provide Shell's entire Wireline and Well Test activities within the operating units of Shell UK Limited, Nederlandse Aardolie Maatschappij B.V. ('NAM'), A/S Norske Shell and Shell E & P Ireland Limited.
The contracts have an effective commencement date of February 1, 2005 with work getting underway immediately. The contracts have a combined value of $100 million over five years. This value may increase with activity levels and there are also two one year extensions on each contract. The work will be managed and implemented by Expro staff based in Aberdeen and Great Yarmouth within the UK, Den Helder in Holland and Bergen in Norway.
Commenting on the announcement, Expro's Chief Executive Officer, Graeme Coutts, said: 'We are delighted to have been awarded this work by Shell and it confirms our position as one of Europe's leading oilfield service provider. Expro's retention of these significant contracts and their increase in scope clearly demonstrates Shell's confidence in our capabilities to support their key assets. Overall, the North Sea markets continue to offer positive conditions. Our technology portfolio, critical mass and in-depth understanding of the requirements of mature oil and gas provinces, is clearly understood by our clients and provides a positive environment for the Group'.
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