Aberdeenshire-based oilfield service company ROMAR International has secured three separate contracts with oil and gas operators, totalling a seven figure sum.
The contracts are in line with company’s plans to achieve a 25% growth in 2014 after achieving 36% growth in 2013 when company turnover reached £5.6M.
The first, a multi-million pound swarf handling contract, has been signed for an initial two year term and has the potential to continue to 2019. The contract is based in the southern North Sea and will start this month.
A one year contract has been secured for a swarf handling job on a semi- sub drilling rig in the UKCS, totalling six figures. The project will cstart in July.
Subsequently, a third agreement has also been awarded to ROMAR by a major oil and gas operator in Norway through ROMAR’s representative agent, STEP Oiltools. The contract is expected to reach a six figure value and includes the use of ROMAR’s swarf handling equipment and expertise for three abandonments.
The company’s swarf handling equipment removes waste that is produced from casing milling activities during asset recovery and decommissioning in the well plug and abandonment phase. The need to have a safe, reliable and efficient means of disposing of this at surface, without unnecessary mechanical or human intervention, is critical for operators and drilling contractors.
Robbie Gray, commercial director of ROMAR International, said: “Securing three contracts for our swarf handling services is absolutely fantastic news for ROMAR.
“We exceeded our ambitious growth targets last year, and as the need for operators to plug and abandon wells grows globally, we look to capitalise on this and achieve 25% further growth by the end of 2014.”
Earlier this year ROMAR appointed STEP Oiltools as its agent in the Caspian region, in a two year agreement. The latest agreement is off the back of a highly successful arrangement in which STEP Oiltools promotes ROMAR’s range of magnetic separation products in Norway, South East Asia and the Middle East.
Since 2001 the company has grown in size and currently provides products in many oilfield industry provinces including the UK and Norwegian North Sea, West Africa, Gulf of Mexico, South East Asia and South America. Its success is reinforced by its ability to set up strategic partnerships in regions where ROMAR’s products will be well utilised.