Costain Joins Oil & Gas UK

Costain has joined Oil & Gas UK as part of a continuous commitment to develop its upstream oil and gas business.

Oil & Gas UK is the leading representative body of the UK offshore oil and gas industry with membership including ‘super-major’ oil companies and some of the largest engineering contractors in the sector.

Costain’s upstream oil & gas business based in Aberdeen, ClerkMaxwell, has doubled in size in the last twelve months, with the award of several framework agreements for North Sea operators.

Charles Sweeney, Managing Director of Costain Energy & Process said: “We have delivered a number of leading-edge projects which have required innovative thinking and fast-track processes, one example being the development of an enhanced oil recovery project which will substantially extend the life of the field for the customer.” He added, “We are committed to developing Costain’s market presence in the upstream sector and membership of Oil & Gas UK will provide a perfect forum for us to contribute to the industry.”

The sector is enjoying an upsurge in capital investment, estimated to be worth up to £11.5bn during 2012 and the Chancellor has recently announced tax allowances that will make a number of brownfield projects more attractive as investment opportunities.

Malcolm Webb, Oil & Gas UK’s Chief Executive said: “We are delighted that Costain, a leading engineering solutions provider, has joined the Oil & Gas UK family. By joining us, Costain will be able to network with potential new customers, benefit from our market insight into the sector and help shape the industry’s future in the UK.”

[mappress]
November 16, 2012