Oil Plus receives trio of global contracts worth £ 1.5 million
Oil Plus, a consulting firm owned by a well-known Northeast entrepreneur, has secured a series of international contracts valued at over £ 1.5 million in the first half of this year.
The company, which was acquired by Mark Cavanagh in 2017, said the deals are on track to grow its sales by 50% and meet its growth target of £ 4.75 million by 2023.
Mr. Cavanagh bought the Berkshire-based company for an undisclosed fee from a division of global industrial giant Smiths Group.
The company, which is headquartered in Newbury, Berkshire, UK and also has an office in Aberdeen, has signed contracts including a seven-figure 12-month production chemistry agreement with a North Sea FPSO operator, a chemical test project for Vedanta (Cairn India) in India and a water injectivity study for SNEPCO, Shell’s operations in Nigeria.
Despite the challenges posed by the coronavirus pandemic, the global process and production oilfield solutions company announced it had an order book valued at over $ 3.2 million last year.
Oil Plus has provided produced water treatment, injection and production chemistry solutions for the global oil and gas sector for more than 40 years.
Bumps on the road
Clarke Shepherd, the company’s global business development director, said, “Like most companies, the Covid pandemic, coupled with uncertain oil prices, has caused several bumps on the road over the past year.
“We have taken prudent measures to maintain our competitive advantage and to ensure that we can continue to support our customers around the world with the usual high standard of reliable services.
“At the same time, we have kept our overheads strictly under control in line with the size of our company and have therefore started the 2021 financial year with a number of new, strategically important contracts.”
“Based on recent contract awards in the North Sea, India and Africa and a steady pipeline of more new business on the horizon, we are confident that our immediately scalable team and further organic growth will achieve our goal by the end of 2023.”
Work on two areas of work that Oil Plus secured in Libya last year is also in full swing, including a study on the reinjection of produced water for the Zueitina Oil Company (ZOC).
In the last few months the Festivals has added 10 new employees to its 46 UK workforce, including Scott Binnie as Technical Director based in Newbury.
Mr. Binnie has extensive experience in the management of complex, high-quality campaigns and has been supporting Oil Plus in project and process engineering as a consultant since 2019.
In this permanent position, he will be responsible for managing the day-to-day technical delivery of the team in line with operational growth, as well as overseeing governance across all technical functions in the company.
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