ASCO Wins North Sea Contract From Shell

ASCO has been awarded a major Integrated Supply Logistics Contract with Shell U.K. Exploration and Production. The new five-year contract (which contains options to extend up to seven years) will commence on February 1, 2003 out of the Aberdeen office. The contract value is in excess of £35 million.

The contract is for the provision of base services together with the management of Shell Expro's Torry Marine Base and Altens Operations Base (Warehousing Operations). ASCO will provide a number of key services including: Stevedoring, transportation, materials handling, receipting and dispatching, stock handling and preservation, daily management of platform supply vessels and optimization of fleet.

Colin Manderson, Chief Exective of ASCO said: "We are delighted with the award of this major contract. Shell Expro is a new customer for ASCO in the Northern North Sea and we look forward to working closely with them to provide the highest level of service and commitment to safety."

Chris Paul Logistics Manager, Shell Expro, said: "I am pleased to announce this new contract with ASCO, which underlines Shell Expro's continued commitment to the North Sea."

The contract will see a number of employees transfer from Seaforth Maritime Limited to ASCO.