Petrofac Limited

Petrofac supporting the National Oil Company of Equatorial Guinea

Petrofac Limited ( PFC) Petrofac Limited: Petrofac supporting the National Oil Company of Equatorial Guinea 18-Apr-2024 / 07:00 GMT/BST Press Release

 

 

18 APRIL 2024

 

PETROFAC SUPPORTING NATIONAL OIL COMPANY

OF EQUATORIAL GUINEA

 

Petrofac, a leading provider of services to the global energy industry, has today been awarded a Technical Services Contract by Compañía Nacional de Petróleos de Guinea Ecuatorial (GEPetrol), the National Oil Company of Equatorial Guinea, to support the operation of the region’s Block B asset.

Under the contract1, valued at around US$350 million over five years, Petrofac will deliver technical services across onshore support bases, an FPSO and a platform on behalf of GEPetrol, the Operator. The contract draws on Asset Solutions’ core services, including operations, maintenance, asset integrity, integrity management, marine services, well engineering, project delivery and supply chain services.

This follows Petrofac’s initial scope supporting the transition of the asset from Mobil Equatorial Guinea Inc (MEGI). Valuing local capability, staff and contractors that were previously in place will continue in various roles, retaining valuable expertise and knowledge of the assets. Petrofac will manage the contract from Malabo, supplementing support from its technical hub in Aberdeen, UK, sharing its extensive Duty Holder expertise.

Nick Shorten, Chief Operating Officer of Petrofac’s Asset Solutions business commented:

“We look forward to developing our relationship with GEPetrol further, collaborating to extend the life of the field to build a legacy of energy independence and sustainable growth for Equatorial Guinea.

 

“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.