Update2 Feb 2024 22:26
update soon on new contracts, asset sales, takeover talk etc.
it's looking good.
but the bb has been taken over by pathetic idiots like dogger, kpa and other *******sssss like eurofil etc leeches that get paid 5-10 pence per de-ramp post. low lives.
petrofac will fly soon. here is a reminder.
petrofac and hitachi energy announce
second project in support of tennet’s 2gw programme
second contract award under the six-project, us$14 billion, multi-year framework agreement with tennet petrofac’s portion of the second contract valued at around us$1.4 billion award coincides with confirmation that petrofac has secured the performance guarantee required for the first contract awarded by tennet in march 2023 second contract contains similar industry standard requirement for petrofac to provide a performance guarantee additional contracts within tennet’s 2gw framework agreement expected at approximately six-month intervals
petrofac, a leading provider of services to the global energy industry, and hitachi energy, a global technology leader that is advancing a sustainable future for all, announce today the award of the second project under the us$14 billion, multi-year framework agreement with tennet – the dutch-german transmission system operator – to expand offshore wind capacity in the north sea.
the project is to be executed under a standalone contract, with petrofac’s portion valued at around us$1.4 billion.
the companies will work together to deliver nederwiek 1, a dutch transmission station which forms part of tennet’s landmark 2 gigawatt (2gw) programme, comprising several high-voltage direct current (hvdc) offshore grid connection systems, each with a transmission capacity of 2 gigawatts.
in an initial announcement earlier this year, petrofac and hitachi energy reported the award of the six-project framework agreement. under this landmark agreement, petrofac will undertake the engineering, procurement, construction, and installation (epci) of offshore platforms and elements of the onshore converter stations while hitachi energy will supply its hvdc converter stations, which convert ac to dc power offshore and dc to ac onshore.
since the initial announcement, petrofac’s and hitachi energy’s teams have collaborated closely on the preparatory works, reserving production capacity for multiple platforms and hvdc technology, and initiating the detailed design process for the first platform, the ijmuiden ver alpha.
further to the group’s market update on 4 december, today’s announcement coincides with confirmation that petrofac has secured the performance guarantee required for the ijmuiden ver alpha contract. the group remains in active discussion with credit providers and its clients to secure the guarantees required for other new contracts in its portfolio.
additional projects within the tennet’s 2gw programme are expected to be awarded at approximately six-month intervals. these are the grid c
Sign In
Follow the stocks
