Petrofac Secures New Contract
Press Release
26 April 2010
PETROFAC LIMITED
PETROFAC SECURES NEW NORTH SEA CONTRACT WITH BRITANNIA
Petrofac, the international oil & gas facilities service provider, has confirmed that its Offshore Engineering & Operations business has secured a new contract with Britannia Operator Limited (BOL). The deal, worth £35 million over five years with a further five year extension option, will see Petrofac continue to provide operations and maintenance support services for Britannia's ongoing operations in the central North Sea.
Petrofac has been working with Britannia, a 50:50 Joint Venture between Chevron and ConocoPhillips, since 1998 and it was the group's flexible approach and strong operational performance that led to the contract being secured following a competitive tender at the end of 2009.
One of the key challenges moving forward is for Petrofac to implement its newly enhanced competency management system to support the delivery of competent operations and maintenance personnel, while providing Britannia with access to its suite of cross-asset support contracts to deliver enhanced cost effective operations and maintenance support services.
Bill Dunnett, managing director, Petrofac Offshore Engineering & Operations commented: "We are delighted that Britannia has chosen to award this new contract to Petrofac, giving us the opportunity to further build upon our existing strong relationship and knowledge and experience of the asset. This contract forms a core part of Petrofac's Offshore Engineering & Operations business and will enable us to continue to demonstrate our ability to deliver safe and efficient operations and maintenance capabilities in the UK North Sea."
Ends
For further information contact:
Tulchan Communications Group Ltd +44 (0) 20 7353 4200
James Bradley
David Allchurch
petrofac@tulchangroup.com
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 Energy 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 more than 11,500 employees, Petrofac operates out of five strategically located operational centres, in Aberdeen, Sharjah, Woking, Chennai and Mumbai and a further 19 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.
This information is provided by RNS
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