Winterhill Largo completes £ 100 million oil valuation contract

Asset valuation and recovery specialist, Winterhill Largo, has completed a contract to value five oil rigs worth over £ 100 million for Dubai based multinational oil business, MB Petroleum.

Four employees of Winterhill Largo’s Manchester and Blackburn offices travelled with colleagues from the group’s Romania operation to Thailand, Brunei and Indonesia, where the rigs are located.

Bob Smith, Director of Plant and Machinery, who led the UK team, has described the project as challenging as most of the rigs were in a semi dismantled state. However, the valuation was completed on schedule.

Neil Duckworth, Winterhill Largo Chief Executive, has additionally outlined that the company is developing a specialised and expert international team in the area of oil and gas industry valuations. It is an industry in which the firm is seeing growing demand for their services. Duckworth has highlighted the MB Petroleum contract as illustrative of the fact that Winterhill Largo are now winning high profile international contracts.

Adapted from press release by Emma McAleavey.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/10072013/winterhill_largo_completes_mb_petroleum_oil_rig_valuation287/