HUNTING PLC
25 August 1999
HUNTING PLC ANNOUNCES
BADENTOY TUBULAR SERVICES AWARDED MAJOR BP AMOCO CONTRACT
Badentoy Tubular Services ('BTS'), a joint venture between Hunting Oilfield
Services (UK) Ltd, (a member of Hunting PLC's Oil Division), Ramco Oil
Services Ltd (the tubular and pipeline division of Ramco Energy plc) and
Sumitomo Corporation Europe plc, has been awarded a five-year Tubular
Management Service Contract with BP Amoco Exploration.
The multi-million pound BP Amoco contract was awarded following a
competitive tendering process.
BTS will liaise directly with BP Amoco's UKCS Business Units in the
management and supply of Oil Country Tubular Goods requirements. Supply
will be facilitated by the BP Amoco/Sumitomo Global Agreement. The
associated tubular management service encompasses inventory management,
material preparation and dispatch to offshore platforms, pipe storage,
repair and refurbishment.
The operational location will be at Badentoy Park in Aberdeen. This 'one
stop shop' site provides a complete integrated pipe management and tubular
maintenance service through the strategic alliance between the three market
leaders in their fields, Hunting Oilfield Services, Ramco Tubular Services
and Tuboscope UK Ltd.
The Badentoy location is tailor-made for contracts such as the BP Amoco
contract and allows for the implementation of an effective integrated
service concept for a wide variety of tubular support services, including
tubular cleaning, maintenance, inspection and storage.
The Contract is effective from the 2nd August 1999 and will involve the
storage, service and maintenance of an estimated 25,000 tonnes of pipe per
annum and will create a number of new positions at Badentoy.
Commenting on the award, Ken Miller, Chief Executive of Hunting PLC, said:
'This contract follows a history of success in providing a one-stop
management service. This should result in good growth prospects for
Hunting Oilfield Services and also strengthens our position as market
leaders. We believe that the Badentoy concept will become the most
commercially advantageous business for clients in the industry and that our
continued success will assist in the pursuit of further opportunities'.
Enquiries to:
Ken Miller, Chief Executive
Hunting PLC
Tel: 0171 321 0123
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