Energy logistics provider Peterson announced on Monday it has renewed a long-term contract worth over £20 million ($25.7 million) with independent exploration and production company Premier Oil.
Peterson, having provided integrated logistics services to support Premier's North Sea activity since 2010, said the new contract was won following a competitive tender. Under the new deal, Peterson will support Premier for up to a decade, with the first five years confirmed, and an optional five year extension in addition.
The scope will see Peterson extend the services it already provides to Premier, coordinating and managing resources, capabilities and technology, and applying intelligent logistics to deliver value through increased transparency and efficiency.
Peterson will support Premier through bases and quaysides across the UK – including Aberdeen, Lowestoft and Shetland – delivering improved efficiencies through the use of Peterson’s in-house technological solutions and the expertise of its people across the entire supply chain – from transport and materials management to customs support.
Chris Coull, Regional Director at Peterson, said, “There is a strong relationship of trust and collaboration between Peterson and Premier Oil, which is advantageous for both companies, and we are excited about what we can achieve together over the next 10 years.
“Collaboration and optimization are at the core of Peterson, bringing parties together for mutual benefit. Our long-term view means we have been an early leader in the drive for efficiency, striving to always identify ways to explore this in the energy supply chain. We are delighted to enter the next chapter of working with Premier Oil to continue to deliver its strategic vision in the North Sea region.”