Specialist oil and gas consultancy Oil Plus has secured several significant international contract awards totalling more than GBP 1.5M in the first half of this year, signalling that it is on track to increase its revenues by 50% and meet its conservative GBP 4.75M 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.
Despite 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 GBP 3.2M, and EBITDA had increased for the third year in a row, with its operating profits up by 23%.
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 a 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.