ASCO Sees Three Big Contracts Extended to Tune of $25m

Energy supply chain specialist ASCO has secured three contract renewals valued at over $25 million in aggregate. The company, headquartered in Aberdeen, has successfully renewed agreements with long-term partners Centrica Energy Storage, TotalEnergies, and BP, each for a duration of up to three years.

ASCO has been re-engaged by BP and TotalEnergies to provide comprehensive support in the North East of Scotland, offering a wide range of services including quayside operations, materials handling, shipping agency, land transport, aviation, and environmental solutions.

Similarly, Centrica Energy Storage has extended its contract with ASCO to aid its onshore and offshore activities, including operations, maintenance, and project execution. Through this significant contract, ASCO is tasked with overseeing services at Centrica’s various UK sites, which include both staffed and unstaffed offshore platforms. Additionally, the agreement supports Centrica’s plans to invest as much as £2 billion in the next ten years to upgrade the Rough field for hydrogen production.

Fraser Stewart, ASCO's Chief Commercial Officer, commented, “This trio of major contract extensions is a testament to the high calibre of service we have provided to these three clients. These partnerships demonstrate the value ASCO provides with our services in the UK energy sector,”

The announcement of these contract extensions follows the recent acquisition of ASCO by UK private equity firm Endless in 2023. It marks a period of strategic growth for ASCO, which aims for substantial expansion both in the UK and internationally over the next five years. This growth strategy is built on the company's achievements in the past year, which include acquiring new clients, expanding its service and industry coverage, and entering new geographic markets.