The Aberdeen oil and gas services specialist will provide coil tubing and fluid pumping services for a number of platforms in the Forties field.
The project is significant in that Apache have also commissioned PSL's newly established Wireline Services Division to perform light intervention work as part of the two year campaign.
PSL made a significant investment at the end of 2005 to create one of the most modern wireline fleets in the industry and the Apache award is the company's first success in that market.
PSL's decision to introduce wireline services was customer-driven with many clients looking for integrated solutions which included the full spectrum of well intervention service lines.
The latest award further strengthens PSL's relationship with Apache which dates back to their entry in the North Sea in 2003 when they acquired Forties from BP.
The contract follows on from a £1 million award by Apache at the end of 2005 for a 90-day hydraulic work-over campaign on seven Forties Echo wells.
PSL managing director, Doug Duguid, said winning the award was a vote of confidence in his company's service quality and safety record.
He said: "Apache North Sea is one of our most valued customers and we are delighted we can build on the long standing relationship that exists between our companies.
"We have invested a lot of money in our new wireline division because we found customers were demanding integrated solutions which could offer the full range of intervention techniques.
"This ability to provide heavy to light solutions, coupled with our proven track record of providing high quality service and multi-skilled crews, were major factors in Apache awarding us this contract.
"Winning the wireline contract in addition to our more established services is a tremendous boost for the company and demonstrates our policy of extending our portfolio will bring its own reward."
John Crum, managing director of Apache North Sea Ltd, said: "Maintaining production in a mature field requires a well equipped, multi-skilled supplier of well services to respond quickly with the appropriate intervention. PSL has demonstrated their commitment to efficiently provide and manage the wide range of well services necessary to keep the Forties field running."
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