Petrofac’s Engineering and Production Services (EPS) business has added to its well engineering portfolio with the award of a contract from an independent exploration and production company, Siccar Point Energy.
The three-year agreement, which includes options to extend, is estimated to be worth up to $95 million over the term, Petrofac said on Monday.
The contract includes provision of well operator and well engineering project management services including supply chain management, for Siccar Point’s operated assets West of Shetland. Under these terms, Petrofac will be responsible for all new well work and the ongoing integrity management of existing well stock.
Petrofac will also deploy its well project management software WellAtlas, which supports the entire well management and delivery agenda.
Commenting on the award, Nick Shorten, Managing Director for Petrofac Engineering and Production Services in the Western Hemisphere, said: “We are delighted to have secured this significant new scope with Siccar Point Energy and very much look forward to supporting them in successfully delivering their ambitious exploration, appraisal and development plans, safely and cost efficiently over the next three years.
“This award builds on our existing track record for delivering Well Operator and Project Management services for clients across the globe, but specifically West of Shetland, where we have significant exploration, appraisal and development experience.”