ASCO starts new decade with significant contract extension in the North Sea

Source: press release, 26 February 2020

ASCO’s Peterhead Supply Base
ASCO’s Peterhead Supply Base (photo: ASCO)

ASCO, the global integrated materials and logistics management company, has been awarded a 5-year extension, with options for a further 6 years by CNOOC Petroleum Europe Limited, a wholly owned subsidiary of CNOOC Limited, to support all the operator’s North Sea assets.

The contract, worth in excess of GBP 100 million, will see ASCO continue to provide a fully managed and integrated, logistics, materials management, waste and marine gas oil supply service. ASCO has supported CNOOC Petroleum Europe Limited’s assets since 2006, and this new contract will enable the provision of continuous support across the asset lifecycle.

The service will be predominantly delivered from ASCO’s Peterhead supply base, benefitting from the strategic location to cost-effectively support Central North Sea activities. In line with ASCO’s multi-port strategy and capability, support will also be provided from Aberdeen and Scrabster.

Commenting on the announcement, ASCO CEO Peter France says, “We are delighted to extend this long-standing partnership. Early in the negotiations we recognised the need to work collaboratively and drive a culture of innovation and efficiency to deliver a strong and sustainable contract, protecting jobs and providing opportunities for the next generation.”

“We are looking forward to supporting CNOOC Petroleum Europe Limited for many more years and delivering on our two fundamental obsessions of safety and service excellence,” continues France.