Petrofac Lands $300 Mln North Sea Job from EnQuest

Petrofac has been awarded two contracts, to provide Operations and Maintenance (O&M) services and Duty Holder Support Services to operator EnQuest plc on the Heather, Thistle, Northern Producer and EnQuest Producer assets in the North Sea.

The contracts are worth approximately US$300 million and the O&M contract is for up to five years; these replace the Duty Holder responsibilities that Petrofac previously held on the Heather, Thistle and Northern Producer, and add support on the floating production and storage vessel EnQuest Producer, which is shortly to be deployed on EnQuest’s Alma/Galia project.

The contracts will see Petrofac provide core operations and maintenance support to EnQuest plus a range of additional key technical support services including integrity, IT, emergency response, logistics, audit and metering support.

Ayman Asfari, Chief Executive, Petrofac said: “We have enjoyed an excellent and mutually beneficial relationship with EnQuest for several years now and we are delighted to be able to continue to support them with this operations and maintenance package both on existing assets and as extended onto new assets. We recognise that operators are increasingly looking to assume more responsibility for their own assets and we are committed to supporting our customers not only as Duty Holder but in due course, by responding to their strategic aims and supporting them through the transition to greater autonomy when the time is right for them.”

Amjad Bseisu, Chief Executive, EnQuest, said: “Our relationship with Petrofac continues to be strong. We are pleased to confirm that under this new structure, Petrofac continues to provide support services to EnQuest and anticipate that in future there will be opportunities for Petrofac to grow that support further.”

Financial reporting

This Duty Holder Support Service contract replaces an earlier Duty Holder contract that Petrofac held with EnQuest, with support to the EnQuest Producer added to the scope. As such, there is no net increase to Petrofac’s backlog as a result of this agreement.

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Press Release, August 27, 2013