Petrofac nets $168 million offshore deal for BP
Five year deal covers BP's North Sea exploration and production assets
Petrofac, the international oil & gas facilities service provider, has confirmed that its Offshore Engineering & Operations business has been awarded a prestigious $168 million (£100 million) contract to provide maintenance services in the North Sea by BP Exploration Operating Company. This is the first time that BP has separated out maintenance services in this way.
Under the terms of the five-year contract, Petrofac will deliver integrated maintenance management support services including: 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 services 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 looking forward to having the opportunity to share our experience and knowledge with BP.”
Bill Dunnett, managing director of Petrofac's Offshore Engineering & Operations business, said: “We are very pleased to win this contract as we value our maintenance and integrity capabilities. Petrofac is investing in significant, sustained growth across our UK and international offshore service business. We are also drawing on the broader Petrofac expertise and systems to focus on working with BP to drive higher plant reliability and availability over the duration of this contract. We look forward to going offshore to meet the safety representatives, maintenance and operations teams in the Southern and Northern North Sea to implement a safe and effective transition.”