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Oil & Gas Firm gets £1m New Business

Niche Oil & Gas firm boosted by £1m of new business.

ABIS Projects has won a clutch of contracts worth around £1million over the next 15 months.

The oil and gas project services consultancy has secured frame agreements and call-off contracts with ADTI, Hunting, Talisman Sinopec and North Sea newcomer, MOL.

Aberdeen-based ABIS Projects is working with these new clients providing multi-discipline resources covering business strategy, acquisitions, risk, projects and management systems across the supply chain.

Francis Kiernan, who acquired an interest in ABIS Projects earlier this year, said: “With the considerable drop in oil price, the focus in the North Sea once again turns to innovative ways of working which will deliver cost-efficiencies and greater value. A one size fits all approach is no longer sustainable. The ability to take a commodity, whether it be intellectual property, material, goods or supply chain risk and turn it into a value proposition is now required”.

The oil price has dropped by more than 25% in recent months and Mr Kiernan said that this is exacerbated by high production costs. “Unit operating costs have risen 62% since 2011. The industry has lost sight of achieving optimal value for minimal cost. We need a much better alignment of cost and value.”

Source:  Aberdeen Business News

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