PCH said it had already begun providing scaffolding and painting services up to an initial value of $1.9 million for a major BP-led development in the Caspian Sea. However, it said the service order now incorporates the full value of the company's tender to BOS and should provide plenty of work over the next two years.
The BOS contract forms part of Phase 1 of the $6 billion "Full Field Development" to be completed by AIOC, which is an international consortium made up of BP (operator), ExxonMobil, Unocal and Itochu.
PCH said it has also received a Letter of Intent worth an estimated $8.5 million from the US-listed McDermott International Inc for similar services on another area of the FFD.
According to PCH Group managing director, James Cullen, PCH will be looking for more work as further 'work packages' on Phase 1 become available.
Mr Cullen said BP recently approved Phase Two of the FFD valued at an estimated $10 billion and that PCH was well placed to tender for the significant work that will inevitably arise from the latest approval.
With the Middle East in turmoil, Western countries and oil companies have increasingly begun to shift their focus to the oil-rich region of the Caspian Sea to lessen their dependence on the OPEC cartel. PCH has been established in the Azerbaijan capital of Baku - the centre of activity - since 1999.
