Last checked at 16 Nov 2009 12:00
PETROFAC LIMITED
PETROFAC AWARDED MAINTENANCE SERVICES CONTRACT
Petrofac, the international oil & gas facilities service provider, announces that its Offshore Engineering & Operations business has been awarded a contract to provide maintenance services in the North Sea by BP Exploration Operating Company Ltd.
Petrofac has won a prestigious five-year contract, worth in excess of £100 million. Under the terms of the contract, Petrofac will deliver integrated maintenance management support services including: the planning, co-ordination and execution of maintenance activities for all of BP's UK offshore assets and the onshore Dimlington plant.
Bernard Looney, managing director, BP North Sea, said: "I am delighted that Petrofac has been awarded the Maintenance Contract. They have the capability to deliver our maintenance strategy and have demonstrated their determination to succeed and I very much look forward to a long and productive partnership. The North Sea is a big part of BP's global business and our goal is to sustain investment over the next decade. This has been the third contract to be awarded out of our £1 billion portfolio of key contracts to be announced over the coming months. These are more than traditional contract renewals - they are designed to fundamentally transform the way we work together with our suppliers to drive improved safety and efficiency in the basin."
Maroun Semaan, Petrofac's group chief operating officer commented: "This is a significant contract win for our Offshore Engineering & Operations business and we are delighted to have the opportunity to share our experience and knowledge with BP. An integrated maintenance approach will be adopted, which will enable us to focus on common ways of working to deliver, safely, our mutual goals of enhanced integrity, uptime and asset performance, creating value for both organisations."
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Bell Pottinger Corporate & Financial: +44 (0) 20 7861 3232
Olly Scott
Notes to Editors
Petrofac
Petrofac is a leading international provider of facilities solutions to the oil & gas production and processing industry, with a diverse customer portfolio including many of the world's leading integrated, independent and national oil & gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC) and is a constituent of the FTSE 100 Index.
The group delivers services through seven business units: Engineering & Construction, Engineering & Construction Ventures, Engineering Services, Offshore Engineering & Operations, Training, Production Solutions and Energy Developments.
Through these businesses Petrofac designs and builds oil & gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac's range of services meets its customers' needs across the full life cycle of oil & gas assets.
With more than 11,500 employees, Petrofac operates out of five strategically located operational centres, in Aberdeen, Sharjah, Woking, Chennai and Mumbai and a further 19 offices worldwide. The predominant focus of Petrofac's business is on the UK Continental Shelf (UKCS), the Middle East and Africa, the Commonwealth of Independent States (CIS) and the Asia Pacific region.
For additional information, please refer to the Petrofac website at www.petrofac.com.