Expro Nets USD 200 Mln Statoil Contract

Expro has secured a significant Europe CIS (Commonwealth of Independent States) contract, providing fully integrated well testing and fluid sampling services for Statoil Petroleum AS in the Norwegian Continental Shelf (NCS).

Starting on 1st January 2015, the initial 4-year contract is valued at $200 million with options to extend for a further 6 years.

The contract will include the provision of downhole tools, gauges, tubing, surface well testing, rig cooling and subsea services. This is complemented by a range of fluid sampling services, including downhole samplers, surface sampling, and specialised analysis and metering services. This extends across the exploration, appraisal and development activity for Statoil’s mobile offshore drilling units and fixed platforms within the NCS.

Expro’s new $10million base, due to open in Tananger, Norway in summer 2015, positions the company well to support this new contract. The 19,000 sqm facility consolidates Expro’s three current locations in Stavanger, and is complemented by existing offices in Bergen and Haugesund. The 10,600 sqm workshop has the capacity to rig-up four well test packages, and service a further six, simultaneously.

Mike Jardon, Chief Operating Officer, comments: “We are absolutely delighted to continue our long-standing relationship with Statoil, a cornerstone operator in the Norwegian Continental Shelf, providing long-term activity over the coming years.

“This contract award is an important achievement for Expro. We have proven our position as the leading well flow management company in Norway, with a firm focus on delivering safe, high quality services to our customers.

“We look forward to strengthening our relationship with Statoil, whilst growing the business through our investment in new facilities, equipment and highly skilled employees.”