Cape wins multi-million-pound contract

Cape, which has its UK operations based in Wakefield, will provide fabric maintenance support and deck operations on the platforms together with onshore maintenance at BP's Dimlington Gas Terminal.

Cape already provides these services to BP at six of its UK North Sea oil platforms.

It said that this contract would add an additional three assets in the Clair, ETAP and Andrew platforms, as well as the Dimlington Gas Terminal.

Cape's chief executive Martin May said: "Cape has been providing services to BP in the North Sea continuously for the past 28 years. We are delighted to further develop this by expanding our provision of safe, cost-effective and innovative services across BP's entire UK offshore operation."

Bernard Looney, managing director of BP North Sea, said: "Cape has demonstrated its capability to deliver the services we need safely and efficiently and we look forward to a continued productive partnership. The North Sea is an important part of BP's global business and our aim is to sustain investment here over the next decade and beyond."

Earlier this week, Cape announced it had won 6m in new contracts with oil giant Shell. It has been awarded the additional contracts with Shell Philippines Exploration.

Cape will work on the Shell Malampaya 2010 shutdown, which will take place in the first quarter of 2010.

The company, which provides maintenance services to energy and mining companies, said cash generation has been strong and it expects to reduce debt to about 115m by the end of the year. Cape is expected to report a pre-tax profit of 60m in the year to December 31.