Signs of recovery in North Sea industry

NORTH Sea oil services heavyweight Enermech has won contracts worth tens of millions of pounds in the last quarter amid signs of recovery in the area, which has been hammered by the fallout from the coronavirus crisis.

Aberdeen-based Enermech said the contracts won in the past three months involve work on a range of projects, including some of the kind that can be hard to find in a downturn.

The company will provide pre-commissioning services for Technipfmc and supply rigging equipment and crane management services for Petrofac.

Ross Mchardy, regional director for Europe & Africa said: “Our work, particularly on pre-commissioning is a barometer of the sector, so it is encouraging to see new projects coming on stream and developments restarting.”

Firms that operate oil and gas fields have slashed spending in the North Sea in response to the downturn triggered by the coronavirus crisis. The partial recovery in the crude price seen amid the rollout of coronavirus vaccines and moves by major exporters to support the market has boosted sentiment.