TWMA Bags $46.6MM in Drilling Services Contracts
Leading integrated environmental services specialist TWMA has announced contract wins of £25million (US $46.6MM) secured within the last quarter.
The majority of the work will take place in Nigeria, Egypt and the UK and includes new projects with Total and Senergy, as well as extensions to existing contracts for BP, ExxonMobil and Oilexco.
The new contracts include handling the cuttings that are a by-product of the drilling industry both on and offshore, using thermal technology to separate them into water, oil and solids which can then be recycled.
One new contract for Total, which has been a client of TWMA for five years, is worth more than £10million for three years work with the option of extending for a further two years. An additional contract for Total is to be carried out in Nigeria where TWMA has been operational for over two years at Onne, Port Harcourt, for cuttings handling, processing and bin hire.
New contracts have also been won in Nigeria with Mart Energy and Afren for supplying onsite cuttings handling and onshore processing for two swamp rig operations and one offshore rig respectively.
Meanwhile, BP Egypt has extended its contract by a further two years. The contract covers all BP's drill cuttings handling, processing, slops, vessel health care and pit cleaning and has an additional value of £5million.
Ronnie Garrick, Managing Director of TWMA, said, "Our business is growing significantly with increasing demand for our services leading to contract wins in domestic and international markets. We have invested in new equipment to make sure we can meet that demand from the oil and gas sector for the cost-effective environmental services we offer.
"TWMA is a world leader in the handling and treatment of waste generated by drilling operations and we anticipate further major growth as the need for our services grows throughout the world through the impact of legislation on the oil and gas industry."
TWMA employs 300 people around the world and recently revealed plans to invest more than £3million in a new Aberdeen HQ as part of its strategy to expand the business and create more jobs.
The Company plans to relocate most of its staff from its base at Tullos to the former Vetco Gray building at Broadfold Road, Bridge of Don, Aberdeen.
TWMA recently launched a mobile version of the TCC-RotoMill technology --TCC Rototruck -- which can go virtually anywhere in the world in any conditions to treat contaminated drill cuttings.
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