AMEC Awarded 7-Year Service Contract in North Sea
The new joint venture company, 'Sigma 3', comprises AMEC plc, Wood Group Engineering Services Ltd and KBR. Each company holds a one third share.
Formation of the joint venture approach follows a review by Shell of its existing 'integrated services contracts' in the North Sea; the main drivers being improved safety and production performance efficiency. For AMEC, the new contract covers a broader geographical area of operations in the North Sea and an extension from three to seven years. Taken together these factors provide AMEC with an additional £160 million of services activity for Shell Expro.
The combined UK workforce, onshore and offshore, for Sigma 3 will be around 1400 people. It has a diverse combination of skills and technology particularly in the support service areas of engineering and maintenance. It will support Shell's four main asset cluster's in the Central and Northern North Sea. It will also have an extensive supply chain involving over 200 suppliers of materials and services.
Sir Peter Mason, chief executive of AMEC, said: "For AMEC, this contract marks the continued growth of our services business and the trend towards higher quality earnings through long-term service relationships with major clients."
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- UK Oil Regulator Publishes New Emissions Reduction Plan
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- PetroChina Posts Higher Annual Profit on Higher Production
- McDermott Settles Reficar Dispute
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
- House Passes Protecting American Energy Production Act
- TotalEnergies Restarts Production in Denmark's Biggest Gas Field
- USA Oil and Gas Job Figures Jump
- Republican Lawmakers Say IEA Has Abandoned Energy Security Mission
- Blockchain Demands Attention in Oil and Gas
- Houthis Warn Saudi Arabia of Retaliation If It Backs USA Attacks
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- Summer Pump Prices Set to Hit $4 a Gallon Just as Americans Hit the Road
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Equinor Makes Discovery in North Sea
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension