Petrofac to Provide Services for New North Sea JV
The UK’s Petrofac has secured a two-year deal worth $50mn to provide services for a new UK North Sea venture between Oman’s Petrogas and Norway’s HitecVision, it said in a statement on January 8.
The joint venture, Petrogas NEO UK, agreed to buy North Sea assets from France’s Total in July for $635mn. The deal is not yet closed.
Petrofac said it would assist its client with the transition of operations at the Quad 15 and Flyndre area assets. The scope of its contract covers operational, maintenance, engineering, construction, well engineering and project management support services.
“This agreement represents a significant new strategic partnership for Petrofac in our core UK market,” Petrofac’s managing director for engineering and production services in the Western Hemisphere, Nick Shorten, commented. “Our ability to seamlessly integrate services across the asset lifecycle will ensure Petrogas NEO UK’s requirements are efficiently supported as it seeks to safely and responsibly extend field life.”
The Total assets produce around 25,000 barrels of oil equivalent/day, split roughly equally between oil and gas.