Ramco Norway, specialists in the preparation, inspection, surface treatment, and preservation of OCTG (oil country tubular goods), has secured a long-term contract with Equinor, set to bring in $11.2 million (NOK 120 million) annually for the company.
Ramco has been preparing pipes for offshore operations for over 25 years, and with Equinor’s new contract, it is guaranteed work for the next five years, with an option for two plus two years, until 2033.
This is important for Ramco as a company and especially for its 110 employees and the local communities in which it operates, Ramco said, adding that the long-term contract with Equinor ensures stability, enabling the company to invest in its employees and facilities.
"Ramco Norway has been awarded 80% of the volume of oil and gas pipes running from Equinor at Fjord Base in Florø to the Norwegian Continental Shelf (NCS). From Sandnessjøen and Hammerfest, we have been allocated 100% of the volume.
“This means we are establishing a new department at Polarbase in Hammerfest, a supply base for oil and gas activities in the Barents Sea. It's strategically important for us to be close to the Barents Sea, where the growth will occur," said says Arild Moe, CEO Ramco.
This is the third time Ramco has entered a long-term contract with the energy giant Equinor, having had good cooperation since signing the first contract in 2008.