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Double success for ASCO in Norway

June 8 - In Norway, oil and gas logistics company, ASCO has signed an agreement with Troms

The company has also signed a supply base partnership deal with Maersk Oil to support its drilling campaigns in Norway over the next three years.

Due to be operational from mid 2013, the Tromsø base will be the focal point for servicing rigs in the north Norwegian Sea.

Work to construct the supply base facility has started, on the brown field site which is just south of Hammerfest.

The Tromsø development is part of a NOK300 million (USD49.5 million) development plan by the port authority. It comes in direct response to increased oil and gas activity in the far north of Norway.

ASCO's northern Europe managing director, Runar Hatlevedt, said, "Tromsø is a key logistics hub in northern Norway, strategically situated on the edge of the Arctic. This is a very important area of development for us and will enable us to support key drilling operations in the northern part of the Norwegian Sea."

The site will comprise of 80,000 sq m of industrial space and two deep water quaysides in excess of 200 m.

Hatlevedt added, "We are very impressed at the infrastructure being created by the port authority. This type of infrastructure is so important for global companies such as ASCO to establish our operations for the major oil and gas operators. In addition, our partnership with Tromsø Port Authority will help create jobs in the local area as well as develop local skills - boosting the local economy."

The cooperation agreement also allows ASCO to commence logistics operations immediately at existing Tromsø Port facilities.

ASCO Norway has also signed a three year partnership deal to support Maersk Oil's drilling campaigns in Norway. The campaigns will be supported from ASCO's Kristiansund base at Averøy. The first oil rig to be supported under the new contract will be the Transocean Barents at license 6506/6-2 Albert in the Norwegian Sea just north of Kristiansund.

www.ascoworld.com

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