Sector News

Petrofac wins $250 mln U.K. North Sea contract

March 11, 2016

Oil and gas service firm Petrofac Ltd. said Friday it signed $250 million contract to operate the Anasuria cluster of assets in the North Sea that were acquired by AOC, a U.K. joint-venture owned by Hibiscus Petroleum Bhd and Ping Petroleum Limited.

Under the contract, Petrofac becomes Duty Holder, which means it will assume full responsibility on behalf of the owners for the floating and production storage and offloading of operations at the Anasuria cluster, as well as the monitoring and managing of related pipelines and wells, with the exception of the Cook well.

The initial five-year contract, which has options to be extended, secures 65 jobs, with most of the offshore personnel currently supporting the asset transfer to Petrofac.

The Anasuria cluster is located 175 kilometers east of Aberdeen and consist of the Anasuria FPSO, Teal, Teal South, Guillemot A fields and a 38.65% interest in the Cook field.

By Alex MacDonald

Source: MarketWatch

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