Cape wins new 5 year BP service contract worth £150 mln for North Sea oparations

Industrial support service group Cape (AIM: CUI) has been awarded a five year service contract worth £150 million from BP (LSE: BP). The company will provide maintenance support and deck operations on all of BP's nine UK North Sea assets. Cape will also provide onshore maintenance services at BP's Dimlington Gas Terminal, Yorkshire.

"Cape has been providing services to BP in the North Sea continuously for the past 28 years”, Cape Chief Executive, Martin May commented, “We are delighted to have the opportunity to further develop this important relationship between our companies by expanding our provision of safe, cost effective and innovative services, across BP's entire UK offshore operation."

The company currently services six of the nine BP assets, this latest deal extends existing contracts and expands Cape’s operations to cover BP’s Clair, ETAP and Andrew platforms plus the Dimlington Gas Terminal.

“The North Sea is an important part of BP's global business and our aim is to sustain investment here over the next decade and beyond. This award is the latest in our overall portfolio of key contracts representing £1 billion of investment”, BP North Sea MD Bernard Looney said.  http://www.proactiveinvestors.co.uk/companies/news/12426/cape-wins-new-5-year-bp-service-contract-worth-150-mln-for-north-sea-oparations-12426.html