Petrofac Wins North Sea Service Deal from Ithaca
The UK's Petrofac has secured a "multi-million dollar" integrated services contract from Ithaca Energy for work in the UK North Sea, it said on September 15.
The five-year deal covers operations, maintenance, engineering, construction, and onshore and offshore technical support across Ithaca's operated North Sea assets. It also expands the scope and the duration of services Petrofac has provided at Ithaca's Alba, Captain, Erskine and FPF-1 facilities since 2011.
Ithaca, owned by Israel's Delek, expanded its North Sea business significantly through the $2bn acquisition of Chevron's operations in 2019. It now has interests in seven operated and 11 non-operated producing fields that flowed 75,000 barrels of oil equivalent/day last year.
Having built up its own in-house capabilities, Ithaca has taken the "strategic decision" to become duty holder for the FPF-1 floating production facility in the Greater Stella Area, replacing Petrofac in this role. But Petrofac will continue to provide all services and 96 offshore team members for the asset under the new contract. Ithaca appointed a new CEO, Bill Dunnett, in the summer. His earlier career included a spell at Petrofac.