Petrofac awarded extensions on UKCS
Press Release
14 December 2015
PETROFAC'S COLLABORATIVE APPROACH SECURES CONTRACT EXTENSIONS
Petrofac has been supporting the UK Continental Shelf (UKCS) for more than 20 years, working in collaboration with its customers to drive efficiencies and generate maximum value across their operations.
Petrofac's flexible commercial models are designed to support its customers' long-term objectives and enable the delivery of production and operational improvements, whilst maintaining safety performance.
This approach has resulted in the business securing recent contract extensions from its customers on the UK Continental Shelf (UKCS), worth approximately US$400 million.
Petrofac has recently secured a two year extension from Centrica Storage Limited to its Services contract on the 8A platform in the Rough field which will commence in January 2016.
It has also secured a five-year contract extension from EnQuest, combining the services of an existing Facilities Management Agreement that will see Petrofac continue as Duty Holder of the Kittiwake platform, with a brownfield engineering modifications contract. Petrofac will apply its significant experience of operating the Kittiwake asset throughout the previous decade to generate further efficiencies and savings that in turn will create a self-funding profit mechanism for the business and will deliver additional value to EnQuest.
Walter Thain, Managing Director, Petrofac Offshore Projects & Operations said: "We've enjoyed productive and long-standing relationships with our customers in the UKCS and these contracts are a great demonstration of how we can continue to work in partnership to efficiently deliver in line with their individual business and operational needs and our own standards."
This is the second round of UKCS renewals announced by Petrofac, with the award earlier this year of a number of operations and maintenance contracts, worth US$400 million, from customers including CNRI and Eni.
Ends
For further information contact:
Victoria Smart +44 (0) 1224 858782
Communications Executive
Petrofac Offshore Projects & Operations
Alison Flynn +44 (0) 207 811 4913
Head of Media Relations
Petrofac Limited
Tulchan Communications Group Ltd +44 (0) 207 353 4200
Stephen Malthouse
Martin Robinson
petrofac@tulchangroup.com
Notes to Editors
Petrofac
Petrofac is a leading international service provider to the oil & gas production and processing industry, with a diverse client 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).
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 clients' needs across the full life cycle of oil & gas assets.
With around 20,000 employees, Petrofac operates out of seven strategically located operational centres, in Aberdeen, Sharjah, Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a further 24 offices worldwide.
For additional information, please refer to the Petrofac website at www.petrofac.com.
This information is provided by RNS
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