Nature Group rallies on contract win

Nature Group has been awarded a “major contract by an international oil company” worth at least £5m for the provision of containerised slop-treatment units in the Central North Sea.

The AIM-listed provider of port reception facilities and waste treatment solutions for the oil, marine and process industries said the five-year contract is for the deployment of multiple treatment units and will begin on 1 January.

Chief executive officer Jan Vesseur said: "This agreement reinforces the benefit of offshore slop treatment in existing and mature oil/gas fields and, with such a major oil company leading the way in the North Sea for sustainable, safe and clean waste management, selecting Nature Group to provide this service underlines that our units are best in class both technically and commercially.

“The oil and gas industry is experiencing difficult times and to win this major assignment in the current extremely competitive market environment is a big compliment for our product line and service.”

At 1220 GMT, the shares were up 105% to 11.00p.