Veolia Environmental Services has won a contract to decommission a 14,000-tonne oil platform in the Norwegian North Sea.
The Yme rig will be dismantled and recycled at the Lutelander site in Norway when it arrives mid next year.
Veolia aims to recycle 99.7% of the material such as metals, iron, steel and electrical items from the platform.
Estelle Brachlianoff, Veolia Senior Executive Vice President UK and Ireland said: “This significant contract with YME will be our foothold in the oil and gas sector which is integral to our future growth.”
The company will also be entering into a long-term agreement with its Norwegian partner Lutelandet Offshore to develop a deep-water quay at the site.
At least 2,000 platforms need to be decommissioned in the next 10 years, according to Veolia.