TSMarine Inks Three Year Deal with Weatherford

TSMarine (Contracting) Ltd has signed a three-year Master Service Agreement with Weatherford International Inc.

Over the three year period TSMarine will be called upon to carry out specific pieces of work dependent on Weatherford's requirements. The first piece of work (call-off contract) is due to be worth in excess of 1.5million for the specialist marine and subsea operations support services provider.

This call-off contract, which involves supporting the abandonment and recovery of six wells on behalf of Nexen, will be carried out by TSMarine onboard the Botnica vessel and will begin in August 2006.

The 30-day call-off contract will see TSMarine provide the use of two work class remotely operated vehicles (WROVs), specialist survey and positioning systems, and rigging equipment. It will also manage the operation through to completion.

The contract award comes as TSMarine is nearing completion of a 3million contract for Shell, which has seen it carry out seabed excavation works at Shell's Shearwater and Galleon platforms.

Alasdair Cowie, managing director of TSMarine, said: "This is a significant contract win for TSMarine and allows us to develop another strong working relationship with one of the major players in the oil and gas sector."

John Boyle, Offshore Well Abandonment and Decommissioning Projects, Weatherford, said: "The MSA with TSMarine is an exciting development for both parties. Aligning our full range of services and complimentary skill sets provides clients with a true single source option for sub sea well abandonment and related activities".

TSMarine also recently won the prestigious International Safety Award from leading training and advisory body, the British Safety Council, and Alasdair commented: "Receiving this award highlights our commitment to ensuring all of our employees meet the strict health and safety guidelines we have in place".

"TSMarine has experienced exceptional growth since formation in 2004 and safety has been one of the cornerstones on which we have built this growth."

TSMarine (Contracting) Ltd is a specialist marine and subsea operations support services provider, operating in the offshore oil and gas industry and renewable energy markets. The company operates in many areas of the world including the North Sea, Mediterranean, Africa, Middle East and Asia-Pacific.

TSMarine's primary focus is the decommissioning of redundant subsea production facilities including wells, structures, pipelines, umbilicals and protection structures and deepwater salvage support. TSMarine's equipment, vessels, and expertise, also support a diverse cross-section of offshore projects.

TSMarine Ltd is head-quartered in Aberdeen with an office in Bergen, Norway, and more recently a branch office in Perth, Australia. The company employs around 30 project management and support personnel.


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