According to the terms of the contract, Petrofac will deliver technical services across onshore support bases, an FPSO, and a platform on behalf of the operator
GEPetrol awards $350m technical services contract to Petrofac. (Credit: Petrofac Limited)
Petrofac has secured a technical services contract worth about $350m from Equatorial Guinea’s national oil company Compañía Nacional de Petróleos de Guinea Ecuatorial (GEPetrol) to facilitate the operation of the region’s Block B asset.
According to the terms of the contract, Petrofac will deliver technical services across onshore support bases, a floating production storage and offloading (FPSO), and a platform on behalf of the operator GEPetrol.
The Block B offshore development area, which is spread over 500,000 acres in the Gulf of Guinea, contains the Zafiro oil field. The Zafiro field has been in production since 1996.
GEPetrol director general Teresa Isabel Nnang Avomo said: “We are excited to grow our partnership with Petrofac.
“By unlocking the huge potential of our indigenous national workforce, we will build with Petrofac’s assistance, an organisation for the long-term management and development of our country’s oil and gas assets.”
Awarded for five years, the contract will leverage Petrofac’s asset solutions unit’s core services. It includes operations, integrity management, marine services, maintenance, asset integrity, well engineering, supply chain services and project delivery.
According to Petrofac, the new commitment comes after the company’s initial scope supporting the transition of the asset from Mobil Equatorial Guinea (MEGI).
The company also said that it will oversee the contract from Malabo, with additional support from its technical hub in Aberdeen, UK and by leveraging its duty holder expertise.
Petrofac asset solutions business chief operating officer Nick Shorten said: “This award is an excellent example of our strategy in action: selectively growing our geographic footprint and driving value for our clients through late life asset optimisation.
“Africa is a key focus for our Asset Solutions business and we are pleased to build on our operations in Ivory Coast, Ghana and Senegal and Mauritania with this opportunity in Equatorial Guinea.”