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.