Aberdeen-based subsea installation contractor Bibby Offshore has secured a contract extension worth in excess of £100million, with Talisman Sinopec Energy UK.

A further three years with a one year extension option has been signed, making this the longest fixed term contract to be secured by Bibby Offshore.

As part of the agreement, Bibby Offshore will deliver construction and inspection, repair and maintenance (IRM) works via its Diving Support Vessel (DSV) Bibby Topaz.

Howard Woodcock, chief executive of Bibby Offshore said: “Securing this extension to our long term agreement demonstrates confidence in our ability to deliver complex and challenging subsea projects. This has been an extremely successful year for the business so far and we are delighted to be continuing our working relationship with one of our longest serving clients and one of the the UKCS’s largest oil and gas operators.

“Controlling high quality assets has been a focus for our management team and the recent charter of the Mermaid Endurer is a key part of this strategy. Giving our clients access to first class vessels is essential to meet their needs and allows us to continue to deliver excellent DSV support in the North Sea.”

Talisman Sinopec Energy UK CEO, Geoff Holmes said: “We are committed to making significant investments within the North Sea in the coming years and to unlocking the potential of the assets across our portfolio. It is an exciting time for our business and for the energy industry as a whole, with many diverse opportunities available and a promising future ahead.”

Bibby Offshore with new sister company Bibby Remote Intervention Limited (BRIL), has grown from 10 employees in 2003 to now employing more than 1,300 people onshore and offshore worldwide, with offices in Aberdeen, Liverpool, Singapore and Trinidad. The company has an international fleet of six subsea support vessels and 13 Remote Operating Vehicles (ROV) and will continue to add to their fleet to meet demand.

Press Release, September 04, 2013