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Cape hired to refresh BP’s Magnus ahead of drilling

Published: 17:13 03 Oct 2014 AEST

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Cape Plc (LON:CIU) has been hired by BP (LON:BP.) for a project in the North Sea.

The engineering specialist will service one of BP’s North Sea oil installations, part of the oil major’s Magnus Life Extension project.

Through the ‘large-scale-project’ Cape said it will refresh the fabric for Magnus, which has been producing oil for more than 20 years.

This will clear the way for new drilling which will see Magnus to maximise its potential, Cape said.

“We are delighted to be awarded this project to support BP in its North Sea renewals programme, we look forward to working with BP to deliver this project safely and effectively," said managing director Simon Hicks.

Cape expects to work under the contract continuously now through to the second quarter of 2015.

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