The Aberdeenshire-based firm, whose core business is in the provision of magnetic separation products and services for the offshore oil and gas industry, says the contracts are in line with company’s ambitious plans to achieve a 25% growth in 2014 after achieving 36% growth in 2013 when company turnover reached $9.6m.

Each contract uses the company’s swarf handling equipment, which removes waste that is produced from casing milling activities during asset recovery and decommissioning in the well plug and abandonment phase.

The company says: “The need to have a safe, reliable and efficient means of disposing of this at surface, without unnecessary mechanical or human intervention, is critical for operators and drilling contractors.”

The first, a multi-million pound swarf handling contract, has been signed for an initial two year term and has the potential to continue to 2019. The contract is based in the southern North Sea and began in June.

A one-year contract has been secured for a swarf handling job on a semi-sub drilling rig in the UK continental shelf, totalling six figures. The project will commence in July.

A third agreement was also awarded to Romar by a major oil and gas operator in Norway through the firms representative agent, STEP Oiltools. The contract is expected to reach a six figure value and includes the use of Romar’s swarf handling equipment and expertise for three abandonments.

Commercial director of ROMAR International, Robbie Gray, said: “We exceeded our ambitious growth targets last year, and as the need for operators to plug and abandon wells grows globally, we look to capitalise on this and achieve 25% further growth by the end of 2014.”

Earlier this year, Romar appointed STEP Oiltools as its agent in the Caspian region, in a two year agreement. The latest agreement is off the back of a highly successful arrangement in which STEP Oiltools promotes Romar’s range of magnetic separation products in Norway, South East Asia and the Middle East.