Petrofac awarded North Sea contract renewal
Posted: 13 July 2011
Petrofac reported its Offshore Engineering & Operations (OE&O) business has been awarded a contract renewal by Marathon Oil.
"The renewal of this important contract with Marathon is recognition of the strength of the working relationship our respective teams have developed in the past six years," said Bill Dunnett, managing director, Petrofac OE&O.
"As a group we are committed to the North Sea and this long-term contract extension, which enables us to continue to deploy our extensive services capability, is key to our continued growth and development in the region."
Petrofac has been working with Marathon on its North Sea Brae assets since 2005. Following the delivery of a number of critical projects, the contract has been extended by a further four years.
Starting in August 2011, Petrofac will deploy its engineering, construction, operations and maintenance services under the terms of the new contract. The base scope is valued at £36 million, although this does not include the value of any future projects which may get sanctioned.