The Chinese oil company CNOOC has, via its European subsidiary, extended a contract for logistics management with ASCO.
Under the five-year extension worth over 100 million pounds, ASCO will continue supporting CNOOC Petroleum Europe Limited's North Sea assets.
The contract will see ASCO continue to provide a fully managed and integrated, logistics, materials management, waste, and marine gas oil supply service.
"ASCO has supported CNOOC Petroleum Europe Limited’s assets since 2006, and this new contract will enable the provision of continuous support across the asset lifecycle," ASCO said Wednesday.
The service will be predominantly delivered from ASCO's Peterhead supply base, benefitting from the strategic location to cost-effectively support Central North Sea activities. Support will also be provided from Aberdeen and Scrabster.
ASCO CEO Peter France said: "We are delighted to extend this long-standing partnership. Early in the negotiations, we recognized the need to work collaboratively and drive a culture of innovation and efficiency to deliver a strong and sustainable contract, protecting jobs and providing opportunities for the next generation."
CNOOC International is the operator of the Buzzard, Golden Eagle and Scott platforms in the UK North Sea. The company is currently working to bring online the second phase of the Buzzard development.
