Aberdeen's L&N has signed a frame agreement with VetcoGray to provide welding, assembly and testing services for 36 subsea production trees which will be deployed on a deepwater project offshore Angola. The company have also secured a contract for similar work on 14 production trees destined for another West African deepwater field.
Sub-contracting these projects to L&N allows VetcoGray to substantially cut the time involved in fitting out and testing their production trees which are in high demand in deepwater subsea oil and gas sectors across the world.
In a separate frame agreement L&N will manufacture stab plate control assemblies for VetcoGray Controls for use on various international projects.
The anticipated combined value of the three deals is worth in excess of £2.5 million ($5 million).
In conjunction with the contract wins, L&N are recruiting a further 20 staff, taking their workforce to more than 60. The Dyce-based firm are also embarking on a £250,000 capital investment programme which includes opening an additional fabrication and assembly plant in Ellon and purchasing new equipment to facilitate the growth in their subsea business.
Formed in March 1996 by Alastair Chalmers, L&N (Scotland) Limited is now well established as one of the leading valve, subsea assembly and specialised welding solution providers in the oil and gas market place.
Managing director Mr Chalmers said the contract wins were a result of a strong relationship built up with VetcoGray over the last five years and laid the foundations for further company growth.
Mr Chalmers said: "We won these contracts as a result of our ability to respond quickly and effectively to the changing needs of the client and to offer innovative solutions as different situations and factors arose.
"These contract awards show that VetcoGray are confident that we can continue to provide high quality craftsmanship and, together with our new assembly and testing facility in Ellon, will remain versatile and flexible in the range of services that we can offer."
L&N's operations director, Mike McArtney, said: "These contracts provide a very strong financial base for taking our company forward and for proceeding with our expansion plans.
"We are looking to recruit a further 20 staff and are making a significant capital investment in additional premises and equipment to ensure that we fulfil our existing contracts and have the capacity to take on further work from other subsea operators.
"The subsea sector is extremely buoyant and fast moving and this investment reinforces our company's position as a reliable, safe and cost-efficient provider of welding, assembly and testing services to the subsea industry."
Most Popular Articles
From the Career Center
Jobs that may interest you