£300m Apache North Sea contract for Petrofac

By PERRY GOURLEY
Published on 21/07/2012 00:00

OIL services firm Petrofac yesterday won a North Sea contract extension worth around £100 million a year.

Under the three-year contract, which could be extended by a further two years, the group will provide engineering and construction services to oil and gas outfit Apache North Sea.

Apache’s assets covered under the contract include the Beryl Alpha and Bravo platforms in the northern North Sea and a gas processing plant at St Fergus, Aberdeenshire.

The contract represents an extension to the current service contract which Petrofac holds for Apache’s Forties platforms.

Bill Dunnett, managing director of Petrofac Offshore Projects & Operations, said the two companies had successfully worked together to deliver a number of successful projects in the Forties field since 2009.

“As Petrofac develops its offshore capability we are delighted that Apache has extended our responsibilities to include engineering and construction work on the Beryl field and at the gas plant,” said Dunnett.

Last month, Petrofac, which has operations in Aberdeen and Montrose, said it had some £700m of oil and gas infrastructure contracts in the pipeline.

The firm designs and builds oil and gas infrastructure and also invests with producers in oil fields. Shares in Petrofac closed down 24p at 1,474p.