Petrofac bags $100 million in contract renewals

Petrofac, an oilfield services provider, has secured contract renewals in the UK totalling $100 million.

Petrofac’s Engineering & Production Services business (EPS) has been awarded two three-year renewals in the UK, the company said on Wednesday.

Both awards come with options to extend beyond the initial term.

The awards were gained under a competitive tender process with an international oil company.

They involve the provision of duty holder support services for an offshore support vessel, and operations and maintenance services for an oil and gas development project and gas terminal.

Nick Shorten, Managing Director for Petrofac’s EPS business in the Western Hemisphere, commented: “These new contracts with a long-standing client are an excellent example of our ability to scale and integrate our service provision in line with their latest requirements.

“We very much look forward to combining our extensive operations’ experience and digital technology programme to deliver sustainably efficient support on these contracts”.