fetching latest news
News tagged in:
Oilfield services giant, Petrofac has secured a major contract extension to continue supporting the operations of Repsol-Sinopec Resources UK Limited’s in the North Sea. The Jersey-based firm will continue as a tier 1 contractor for brownfield modifications and projects for Repsol-Sinopec Resources’ operated assets and terminal at Flotta. Petrofac provides engineering support services for the Flotta asset.
Oilfield services major, Petrofac’s joint venture Azerbaijani state-run firm, SOCAR has won an Engineering and Technical Services contract in Azerbaijan. The contract will require Petrofac-SOCAR JV to support activities in the Absheron natural gas field, located in the Caspian Sea. French supermajor, Total and SOCAR own 50% stakes each in the Absheron field.
Petrofac has been awarded a £60 million procurement services contract by Petroleum Development Oman. This contract is a part of a framework agreement signed by Petrofac in 2017. Regional Manager of the company said, "The procurement and management activities for this project will be undertaken from Petrofac’s Muscat office from where we provide first-class expertise in high-value order management".
Oilfield services giant, Petrofac has informed about receiving contract extension from Total. Petrofac will continue to provide Operations and Maintenance (O&M) support to Total’s Alwyn and Dunbar platforms for the next 12 months. Apart from the renewal deal with Total, Petrofac also secured a 12-month extension contract with an unidentified firm operating in the CNS. Both the deals will fetch Petrofac a total of £25 million in revenue.
Oilfield services firm, Petrofac has secured a £12.2m contract from Tullow Oil for the Thames decommissioning project. Petrofac will deliver plugging and abandoning services for three subsea wells on the project, which will also include planning, management of sub-contractors and provision of a jack-up rig. The Thames platform is positioned around 44 miles north-east of the closest landfall of Winterton-on-Sea on the eastern coast of England.
British energy services firm, Petrofac has secured a £750 million contract award for the Ain Tsila project in Algeria. Under the terms of the contract, Petrofac will provide engineering, procurement and construction services for the Groupement Isarene-operated project. The project will produce gas, LPG and condensate for the domestic market and for export. Groupement Isarene is a joint venture between Sonatrach, Petroceltic, and Enel.
Oilfield services giant, Petrofac has awarded Oceaneering International an inspection enactment services contract in the North Sea. Under the scope of this contract, Oceaneering will provide inspection management, shutdown and project support for Petrofac. Oceaneering’s asset integrity team will carry out the contract work from Aberdeen. The contract award will expand Oceaneering’s asset integrity portfolio within the UKCS.
US oilfield service provider, Petrofac has secured a $115 million contract for the development of the Qarn Alam Co-Generation Project in Oman. The project will require Petrofac to install and commission a Gas Turbine Generator Package with one Heat Recovery Steam Generator at the power plant. The plant is intended to support oil extraction in Oman’s central region. The 36 month-long project will be managed from Petrofac’s Muscat office.
Ithaca Energy has concluded its planned stakes acquisitions in the Greater Stella Area from Petrofac and Dyas. The £228 million worth of transaction will gain Ithaca the ownership of Petrofac’s 20% stakes in the central North Sea production hub. Petrofac will also sell its 24.8% interest in the FPF1 floating production facility to Ithaca. Apart from Petrofac, Aberdeen-based Ithaca also acquired 25% stakes of Dyas UK.
E&P firm, Taqa has awarded a 3-year contract extension in UK to oilfield services major, Petrofac. Continuing on the terms of the contract, Petrofac will provide onshore and offshore vibration analyses through its condition monitoring team at EPS division. The oilfield services giant will additionally support Taqa’s North Sea assets in equipment troubleshooting and monitoring. Petrofac has been working with Taqa for 10 years on the contract.
Thai Oil has awarded the consortium of Petrofac, Saipem and Samsung a £3billion clean fuels project in Thailand. The project aims at transforming the existing refinery in the Chon Buri province into a facility that is environmentally-friendly. Under the contract, Petrofac will provide engineering, procurement, construction and commissioning (EPCC) services for over four years, which will also include adding new processing units. Petrofac will receive over £1billion as share.
Jersey’s oilfield services firm, Petrofac has extended its deal with an international Iraq-based oil company. The deal is worth £38 million. This unknown Iraqi client has requested Petrofac to continue providing “support maintenance services” and “new production enhancement facilities”. MD, EPS East commented on this deal and said, “We look forward to continuing our focus on safe and efficient delivery and the development of local resources in-country.”
Oilfield services provider, Petrofac has received one year extension for its services on oil major, Chevron’s rigs in the North Sea. Petrofac has been providing engineering services, apart from operations, maintenance and construction personnel to Chevron from 2014. The service provider has carried out installations of Alba Northern, Erskine, and Captain Platforms, along with the Alba FSU and Captain FPSO vessel.
Petrofac’s head of strategy emphasized on the need of digital data and technology during the Gastech conference, 2018. If more data can be harnessed on oil and gas assets and machinery, it would improve “efficiency, safety and sustainability” quickly, he said. Petrofac is trying actively to provide better technology and had worked with Accenture in order to create a tool that can give “predictive analytics” on oil and gas assets.
The three weeks off, three weeks on rotas are affecting the mental health of the employees and because of this reason, the Unite trade union wants a review of the working patterns on BP’s North Sea. The union and Petrofac have raised a “collective grievance” for the same. BP has acknowledged the issues faced by the workers and said, the company is “committed to supporting mental health in the workplace”.
Petrofac has agreed on joining hands with Algeria’s Sonatrach. The deal is of £543 million for the Tinhert project for field development in Algeria. The agreement is the EPC1 section of the project. The scope of the contract includes commissioning, performance testing and start-up of facilities. A 248-mile pipeline network to connect 36 wells is also part of the agreement. The project is scheduled for completion in 36 months.
British oilfield services giant, Petrofac is farming out its 20% stake in the Greater Stella Area of the North Sea. Ithaca Energy would be acquiring Petrofac’s shares in a $292 million deal. Petrofac will utilise proceeds from the transaction towards reduction in debt, which would require a post-tax impairment charge of approximately $55m. Ithaca’s production, post-completion of the transaction, will increase by approximately 50% to 22,000 boed.
The UK-based oilfield services company, Petrofac has bagged £290 million contract by Basra Oil Company. Under the 34-month contract, Petrofac will provide facilities for the expansion of the central processing facility in the Majnoon Field, Southern Iraq. Additionally, two oil processing trains with a capacity of 200,000 barrels of oil per day are also included in the engineering, procurement and construction contract.