Computime eyes prospects in oil industry after €2m North Sea project
Computime, the IT business solutions company, is nearing the completion of the first of three phases in a €2 million contract to design and implement software applications for a mid-tier North Sea oil and gas company. It is expected that 18-month support agreements to be sealed for each phase will significantly increase the overall value of the project. There are prospects for a wider partnership with the client in other regions, according to Computime director John Wood.
Under this contract, the Birkirkara-headquartered company has been tasked with providing an integrated suite of applications for strategic asset maintenance, supply chain management and financial management, parts of which were developed in-house.
It will deliver the first phase of the project in January, with two further deliveries scheduled for March and July. Mr Wood was not at liberty to name the PLC, but described it as one of the mid-size players to watch in the North Sea exploration and production industry.
The contract, which also provides for IT infrastructure services, is Computime’s first of its kind outside North Africa, the source of most of its international business – although there is a connection.
“This project came about by word of mouth,” Mr Wood told The Sunday Times. “A professional who worked with a client of ours in Libya took up a new role with this North Sea company and recommended Computime for this project. We were deemed to have the right credentials and experience.
“The client is currently operating exclusively in Aberdeen, but we believe to have fostered a valuable business relationship with a fast-growing company which will look to other regions with oil and gas potential and consider Computime a partner.”
Mr Wood added the companies complemented each other in terms of size; unlike a global software corporation, Computime was able to meet and exceed a mid-tier company’s service level expectations.
Computime has delivered similar solutions to the industry in Libya, Syria, Tunisia, Trinidad and Venezuela over the past 15 years.
The uprising in North Africa last year saw its projects stalled but it has now re-entered the region. Mr Wood said all Computime’s existing business in Libya has either been re-established or was expected to come back on stream in the short-term.
It was the Arab Spring and the disruption to its activities in the region which spurred Computime to heighten its examination of potential of other oil and gas locations, Mr Wood pointed out.