PSN Awarded First Major Contract by ConocoPhillips

Aberdeen based Production Services Network (PSN) has been awarded a UK North Sea contract by ConocoPhillips worth approximately £100million over five years. This is a renewal of an existing contract awarded originally to KBR Production Services. PSN was established on 1 May when the management of KBR Production Services established ownership of the Haliburton subsidiary in a deal worth more than £150million.

Under the terms of the contract, PSN will provide operations, maintenance and facilities modifications services.

The contract award is the company's first major win since its inception on 1 May. There are currently 300 contractors and staff engaged in the ConocoPhillips work.

PSN chief executive Bob Keiller said: "This is a huge boost for our company. ConocoPhillips are an extremely important customer and winning this contract is a huge vote of confidence to all the people in our team and a huge vote of confidence to all our other customers."

PSN management told their workforce: "The ConocoPhillips win is a fantastic example of how a strong customer relationship, developed over 16 years, helped us secure a further five-year contract.

"What a great way to start PSN - winning the largest contract to come out of the North Sea this year."

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Posted 29/06/06

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