This is the second major contract win for Setcar since the completion of the acquisition by Directa Plus of 51% of the company on 26 November 2019. The value of the contract to Setcar is estimated to be approximately EUR700,000 a year over a period of seven years for a total value of EUR5 million, the company said in a statement on the London Stock Exchange.
Setcar will provide a wide range of environmental services, both offshore and onshore, including the treatment of oil-contaminated water and soil, residual drilling fluids treatment and the cleaning of oil storage tanks.
The new contract forms part of a larger framework agreement between GSP Offshore and another commercial partner of Directa Plus, the Romanian oil and gas group OMV Petrom. Under this eight-year contract awarded in July 2019, GSP will provide integrated offshore services, installations, and equipment for all the offshore facilities of OMV Petrom.