Exceed secures North Sea well work

Aberdeen-headquartered well management specialist Exceed has secured four new North Sea contracts in the first quarter of 2017 with a combined revenue of approximately £5.5 million ($6.8M).

Exceed said in a statement on Thursday that the work includes a new contract for its Performance Improvement division, a well management project, and two engineering studies.

This will result in a minimum of 14 people being hired across the four projects, including two re-hires and 12 new personnel, the company noted.

The well management work will see Exceed assume the role of well operator, providing an integrated project management solution including full supply chain management. The two engineering studies will be managed by Exceed’s in-house team.

The company said that its recruitment efforts will remain focused on attracting staff of the former well management group Applied Drilling Technology International (ADTI). Operated by Transocean, ADTI ceased trading in May 2015, soon followed by a merger between Exceed and a team of eight key players from the former ADTI organisation.

Founder and director of Exceed, Ian Mills, said: “These contract wins mark an extremely strong start to 2017 for Exceed, and denote a clear indication of strong optimism and resilience in the North Sea.

Mills further said: “Whilst we are a truly internationally operating business, we are deeply rooted within the North Sea and are pleased to see prospects in the region begin to improve.”

Regarding the company’s recruitment efforts, Mills added: “It has been encouraging that we can continue to recruit and offer work to those who have been affected by the downturn.”

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