Amec sees UK oil as key growth sector

Engineering group Amec said it expects to see more growth in the UK oil and gas industry this year, after a contract to help BP’s operations west of Shetland helped keep its order book steady at £3.7 billion over the last year.

In an interim management statement today, chief executive Samir Brikho said: “Amec has performed in line with expectations in the first three months of the year.

“We continue to see good growth in conventional oil & gas, with new contract awards, such as the £68 million contract to deliver the hook up and commissioning services for the two new Clair Ridge platforms for BP and its co-venturers, boosting activity in the North Sea in particular.

“The acquisitions made in 2012 are integrating well and the pipeline of further acquisition opportunities remains good. We remain on track to achieve our targeted EPS of greater than 100 pence ahead of 2015.”

The firm said its workforce had risen to 28,770 in the quarter to March, from 27,242 employees the year before.