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Energy services firm Cape wins 100 mln stg BP contract

Reuters - UK Focus

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May 1 (Reuters) - British energy services firm Cape Plc (LSE: CIU.L - news) said it had secured a two-year contract from BP Plc worth 100 million pounds ($153.4 million).

The company, which supplies scaffolding, insulation, industrial cleaning and fire protection services to oil and gas and power plant operators, said the contract would secure around 500 jobs.

Cape will supply a range of services to six BP assets in the North Sea, which is one of the most expensive exploration areas in the world and has seen oil majors cut hundreds of jobs.

Cape, which won a five-year contract from Exxon Mobil Corp last week, reported a 28 percent rise in full-year adjusted operating profit at 52.1 million pounds. ($1 = 0.6518 pounds) (Reporting By Mamidipudi Soumithri in Bengaluru; Editing by Gopakumar Warrier)