BP awards StimWell Services 4 year contract


Major BP contract for new stimulation vessel in the North Sea

BP has awarded Stimwell Services an initial 4 year contract for their prestigious Valhall re-development. The contract has been extended to cover all of BP’s work in the North Sea and with 2 x 3 year options, has a value up to NOK 2 billion. The Island Patriot vessel will be primarily used by BP but acknowledging the gaps in their utilisation, is being marketed to all North Sea customers on a first come, first-served guaranteed booking arrangement.

"Major BP contract for new well stimulation vessel in the North Sea"
22 August 2008
http://www.bp.com/genericarticle.do?categoryId=9003467&contentId=7047114

"The contract is for a new `purpose built` well stimulation vessel; initially for a 4 year period with 6 year option periods, with a contract value up to NOK 2 billion.
The vessel performing the service will be a new Norwegian owned vessel with a Norwegian marine crew, and is expected to be available and commence stimulation work 4Q 2009, however with a start-up of BP activities mid 2010.
“This state of the art vessel will have the highest HSE standards, highest technical specifications for well stimulation equipment, large storage capacity and better station keeping at the installations” Mr. Garlick continues.

BP will make the vessel available to other operators in interim periods.

“It is our increasing activity at Valhall and the under supply in the North Sea market that triggered us to meet our future demand and restore a healthy competition in the market. The deal will bring considerable cost savings both in terms of rates and efficiency gains,” says Trevor Garlick, Managing Director of BP Norge.
“This state of the art vessel will have the highest HSE standards, highest technical specifications for well stimulation equipment, large storage capacity and better station keeping at the installations” Mr. Garlick continues.

BP will make the vessel available to other operators in interim periods."


For details on booking the vessel, please contact mike.harries@stimwellservices.com

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General Enquiries:

StimWell Services
Beacon Innovation Centre
Beacon Park
Gorleston-on-Sea
Great Yarmouth
NR31 7RA

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StimWell Services
c/o Copco A/S
Vestkraftkaj 4C
DK-6701
Esbjerg
Denmark

Contact Details:

Tel: +44 (0) 1493 448021

Email: sales@stimwellservices.com

Web: www.stimwellservices.com