Contract renewal

RNS Number : 1704K

Petrofac Limited

12 July 2011

 



12 July 2011

PETROFAC LIMITED

PETROFAC AWARDED NORTH SEA CONTRACT RENEWAL

Petrofac, the international oil & gas facilities service provider, announces that its Offshore Engineering & Operations (OE&O) business has been awarded a contract renewal by Marathon Oil ("Marathon"). Petrofac has been working with Marathon on its North Sea Brae assets since 2005. Following the delivery of a number of critical projects, the contract has been extended by a further four years. 

Starting in August 2011, Petrofac will deploy its engineering, construction, operations and maintenance services under the terms of the new contract. The base scope is valued at £36 million, although this does not include the value of any future projects which may get sanctioned.

Bill Dunnett, managing director, Petrofac OE&O commented: "The renewal of this important contract with Marathon is recognition of the strength of the working relationship our respective teams have developed in the past six years. As a group we are committed to the North Sea and this long-term contract extension, which enables us to continue to deploy our extensive services capability, is key to our continued growth and development in the region."

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For further information contact:

Tulchan Communications Group Ltd                                  [phone]

Martin Robinson

[e-mail]

Notes to Editors

Petrofac

Petrofac is a leading international provider of facilities solutions to the oil & gas production and processing industry, with a diverse customer portfolio including many of the world's leading integrated, independent and national oil & gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC) and is a constituent of the FTSE 100 Index.  

The group delivers services through seven business units: Engineering & Construction, Engineering & Construction Ventures, Engineering Services, Offshore Engineering & Operations, Training Services, Production Solutions and Developments.

Through these businesses Petrofac designs and builds oil & gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac's range of services meets its customers' needs across the full life cycle of oil & gas assets.

With around 14,000 employees, Petrofac operates out of six strategically located operational centres, in Aberdeen, Sharjah, Woking, Chennai, Mumbai and Abu Dhabi and a further 21 offices worldwide. The predominant focus of Petrofac's business is on the UK Continental Shelf (UKCS), the Middle East and Africa, the Commonwealth of Independent States (CIS) and the Asia Pacific region.

For additional information, please refer to the Petrofac website at www.petrofac.com.

 

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