Statoil ASA STO has given contracts for the catering and facilities services for its U.K. offshore and onshore operations to ESS Offshore and 14forty. Both these companies are part of Compass Group UK & Ireland.
Aberdeen-based ESS Offshore has been given the offshore catering and facilities contract and the firm is scheduled to commence work in 2016. Per the contract ESS Offshore will provide offshore catering services to the Mariner A platform and Mariner B floating storage unit . It will also provide housekeeping services, perform helideck operations and emergency response duties.
14forty, earlier known as Eurest, has been contracted for onshore total facilities management and will cover Statoil’s offices in Aberdeen, London and its Dudgeon wind farm operations base in Great Yarmouth.
The firm is expected to start providing catering, cleaning, security and property services in Great Yarmouth immediately. However, the London office and Aberdeen will enjoy its services from 2016 with the opening of Statoil’s new UKCS operations centre.
Both contracts have a duration of five years each, with options to extend up to four years.
Statoil, the operator of the Mariner field, has equity of 65.11%. Other co-venturers are JX Nippon Exploration and Production (U.K.) Limited and Dyas UK Ltd. holding 28.89% and 6%, respectively.
Located on the East Shetland Platform of the U.K. North Sea, the Mariner Field lies about 95 miles east of the Shetland Isles.
Currently, construction is under progress on the Mariner platform. Predrilling is expected to begin in 2016 and production scheduled to start in 2018. The development of the Mariner field will boost reserves by over 250 million barrels with average plateau production of about 55,000 barrels per day.
ESS Offshore is based in Aberdeen and provides market leading services to offshore locations in the U.K. and around the world. 14forty is one of the world's leading food and support services businesses, offering integrated facilities management.
Statoil currently carries a Zacks Rank #3 (Hold).
Some better-ranked players in the energy sector are FutureFuel Corp. FF, Paragon Offshore plc PGN and Seadrill Partners L.P SDLP. Each of these stocks sports a Zacks Rank #1 (Strong Buy).
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