Monday, 04 October 2021 10:11

Oil Plus wins trio of new awards in UKCS, India and Africa

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Specialist oil and gas consultancy Oil Plus Ltd has secured a number of significant international contract awards totalling more than £1.5million in the first half of this year, signalling that it is on track to increase its revenues by 50% and meet its conservative £4.75million growth target by 2023.

The Newbury (Berkshire, UK) headquartered business, which also has an office in Aberdeen, has signed deals including a 12-month production chemistry agreement with a North Sea FPSO operator worth a seven-figure sum, a chemical testing project for Vedanta (Cairn India) in India, and a water injectivity study for SNEPCO, the operating arm of Shell in Nigeria.

2021 10 04 101142Despite the challenges caused by the coronavirus pandemic, the global process and production oilfield solutions company ended last year with a buoyant order book worth over £3.2million, and EBITDA had increased for the third year in a row, with its operating profits up by 23%.

Clarke Shepherd, global business development director at Oil Plus said: “Like most businesses, the Covid pandemic coupled with the uncertain oil price caused several bumps in the road last year. We took prudent measures to maintain our competitive edge and ensure we were able to continue supporting our clients around the world with the same high standard of reliable services they are accustomed to. At the same time, we maintained a tight control on our overheads in line with the size of our business and as a result, we’ve started the 2021 fiscal year in a more robust position, with a number of new strategically significant contracts secured. 

“Based on the recent trio of contract awards in the North Sea, India and Africa and a steady pipeline of further new business on the horizon, we are confident that our instantly scalable team and further organic growth will support our target being achieved by the end of 2023.”

Work is also well underway on two work scopes Oil Plus secured last year in Libya, including a produced water re-injection study for Zueitina Oil Company (ZOC).

In the last few months, the firm has added another 10 personnel to its 46-strong workforce in the UK, including Scott Binnie as technical manager based in Newbury. Mr Binnie has extensive experience in managing complex high value campaigns and has been providing project and process engineering support to Oil Plus as a consultant since 2019. In this permanent position, he will be responsible for the day-to-day management of the team’s technical delivery in line with operational growth, and also oversee governance across all the technical functions in the company.

Oil Plus has been providing produced water treatment, injection and production chemistry solutions to the global oil and gas sector for more than 40 years. 

Oil Plus Ltd specialises in water treatment design, troubleshooting and the prediction and control of corrosion, fouling and reservoir souring. The company provides the highest level of field experience, personnel and laboratory facilities to help optimise oil and gas production and reduce operating costs, while ensuring compliance with health and safety and environmental standards. Its corporate headquarters are in Newbury, Berkshire, and Aberdeen (both UK).

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