Cape secures £100m BP deal for North Sea work

Industrial services group Cape has secured a two-year contract, worth about £100 million, with oil major BP.

Joe Oatley said deal will allow Cape to continue investment. Picture: Contributed

The deal will secure about 500 jobs for the firm’s employees, who will provide services including insulation and fire protection on six North Sea assets and the Forties Pipeline Systems.

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Cape chief executive Joe Oatley said the move, which comes a week after it secured a five-year contract at the Esso refinery in Southampton, will also allow it to continue investing in apprenticeships and intern and graduate programmes.

Last year, the group acquired Motherwell Bridge in a deal that valued the venerable North Lanarkshire engineer, which has about 300 staff, at almost £38m.