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Senergy & Centrica Sign Collaboration Agreement

Source: www.gulfoilandgas.com 11/1/2010, Location: Europe

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Senergy has signed a collaboration agreement with Centrica Energy Upstream (Centrica) for the provision of services including subsurface consultancy, well engineering, and well operations management. The value of the five-year agreement is expected to be in excess of £10 million, dependent on the level of support required by Centrica across its UKCS oil and gas operations.

The collaboration agreement is unlike standard contractual agreements in that it is based on a cooperative relationship which is underpinned by high levels of trust and commitment. It operates in a similar way to a master services agreement, where specific terms and conditions relating to future projects are agreed in advance.

Daren Wallwork, vice president of energy services at Senergy, said: "This agreement with Centrica is focused on the alignment of people, values, resources and strategic objectives. In our experience, working in a partnership arrangement where we are closely aligned to the needs of our client is the most efficient, rewarding and successful way of doing business, and we are delighted to be working with Centrica in this manner as they continue to develop their business in the UKCS."

Senergy has a long-standing relationship with Centrica, having supported Venture Production on a number of key projects before it became part of Centrica in 2009.

Greg McKenna, commercial director at Centrica said: "The aim of the collaboration agreement with Senergy is to maximise our project execution and delivery by exploiting our collective resources and expertise."

"We implemented strategic partnership arrangements as part of our supply chain strategy several years ago and have experienced first hand the significant value that these relationships can deliver. When both parties are committed to the same long-term, strategic objectives and the relationship is based on trust, commitment and team work, the benefits to both parties far outweigh those of traditional contracting strategies."

A steering group which is being led by directors from both companies has been established and will meet regularly to review progress, performance, strategy and potential opportunities for Senergy’s work scope to extend to other geographic regions.

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