Siemens Hands Over BorWin3 to TenneT
The BorWin3 offshore wind grid connection project in the German North Sea has been handed over to the German/Dutch transmission grid operator TenneT, by contractors Siemens and Petrofac.The 900 MW project will convert three-phase electric power generated by the Hohe See and Albatros offshore wind farms into direct current and transmit it 160km back to shore to the German national grid.Siemens was responsible for the grid connection system including an onshore converter station.The grid connections HelWin1 and HelWin2…
Petrofac Secures $130 Mln in PDO Awards
Petrofac announced on Tuesday it has secured a new contract and has been awarded of an additional scope of work with Petroleum Development Oman (PDO), with a combined value of approximately $130 million.The new contract award, under a 10-year framework agreement signed in 2017 with PDO, is an engineering, procurement and construction management (EPCM) services contract for the Mabrouk North East Development Project in Oman.The full field development of Mabrouk North East field is planned to be executed in a phased approach.
Petrofac Expecting Full-year Revenue Dip
Oilfield services provider Petrofac Ltd guided to a more than 5% fall in full-year revenue on Tuesday, with delays in bidding processes constricting order intake in its biggest segment during the second half.Petrofac, which designs, builds and operates oil and gas facilities, said revenue for the year ending Dec. 31 would be $5.5 billion, down from $5.8 billion a year earlier.Backlog stood at $7.4 billion as at Nov. 30, compared to $9.6 billion a year ago.(Reporting by Muvija M; Editing by Rashmi Aich)
SOCAR Petrofac JV Wins BP Contract
Petrofac, in a joint venture (JV) with the State Oil Company of the Republic of Azerbaijan (SOCAR), has secured a Project Management Services contract to support BP’s operations in Azerbaijan and Georgia.The three-year contract will support both onshore and offshore activity for BP operated projects in the Caspian Sea area including Azeri-Chirag-Gunashli (ACG), Shah Deniz, Baku-Tbilisi-Ceyhan (BTC), South Caucasus Pipeline (SCP) and Western Route Export Pipeline (WREP).
Petrofac Sells Mexico Assets to Perenco
Oilfield services company Petrofac Ltd said on Thursday it would sell the remaining 51% interest in its Mexican oilfields for up to $276 million to Anglo-French oil and gas company Perenco.Petrofac, which had offloaded a 49% stake in the operations to Perenco last year, said the sale includes interests in onshore fields Santuario and Magallanes as well as offshore field Arenque and that it plans to use the proceeds to cut debt."This disposal reinforces our position as a capital-light business and represents further progress
Bribery Probe Slows Petrofac Sales
Petrofac Ltd on Wednesday reported a fall in first-half order intake and forecast lower 2020 revenue, citing uncertainty relating to an investigation into the oilfield services company's dealings in Saudi Arabia and Iraq.Petrofac, which designs, builds and operates oil and gas facilities, said in June it had lost out on $10 billion worth of contracts globally due to the investigation by Britain's Serious Fraud Office (SFO)…
Drydocks World to Build North Sea Platform
Dubai-based Drydocks World has signed a contract with Petrofac and end-client TenneT to build a High Voltage Alternating Current (HVAC) platform in the Netherlands sector of the North Sea.The service provider to the marine, offshore, oil, gas and renewable energy sectors said in a press release that the HVAC platform will be part of a renewable energy wind farm, located in the Hollandse Kust Zuid grid connection in Netherlands sector of the North Sea.The approximately 3…
NPCC, Petrofac JV Bag Al Yasat Offshore Gig
National Petroleum Construction Company (NPCC) and Petrofac, in a joint venture with CNPC, have won a front-end engineering design (Feed) contract from Adnoc Group company Al Yasat Petroleum for the Belbazem Block Development project located offshore in Abu Dhabi.The contract's scope of works includes the submission of a Feed package and proposal for the engineering, procurement, construction, and installation (EPCI) of the facilities…
Petrofac Wins HKZ Offshore Grid Project
TenneT, the Dutch-German transmission grid operator, has awarded the oilfield services provider Petrofac work on the Beta high voltage alternate current (HVAC) substation platform in the North Sea for the Hollandse Kust Zuid (HKZ) wind farm.Petrofac was already awarded the contract for HKZ platform Alpha in July 2018 and subsequent confirmation of HKZ platform Beta option.The HVAC offshore grid connection platform, to be installed in the North Sea, will be operational in 2022.
Oil&Gas Industry Records 1242 Contracts in Q1
The Oil and Gas industry reported 1242 contracts, of which 1178 were awarded contracts, said Quarterly Oil & Gas Industry Contracts Review.Europe, the Middle East and Africa (EMEA) region recorded the most contracts with 569 contracts, representing around 48% of the total awarded contracts in Q1 2019, followed by Americas region with 366 contracts, accounting for 31% of the total awarded contracts.Upstream sector reported 73% of the total awarded contracts, with 862 contracts.
Proserv Acquires SGC Metering
The global energy services company has announced the acquisition of SGC Metering from Petrofac.SGC Metering is a specialist in the design and manufacture of flow computer metering systems for the oil and gas industry. It provides expertise right across the full life cycle of a metering project, including conceptual design through to installation, operations and maintenance.The firm was established in 1988 and its wide array…
Petrofac Secures Brunei Contract
Oilfield services provider Petrofac and its partner Serikandi Oilfield and Services Sdn Bhd, have secured a multi-annual Engineering Design Services contract to support Brunei Shell Petroleum (BSP) and Brunei LNG (BLNG) in Brunei.Petrofac and partner Serikandi will provide engineering across all phases of the asset lifecycle for the entire portfolio of onshore and offshore assets for BSP and BLNG. All engineering and design work will be undertaken in Brunei…
Tailwind Energy Hits First Oil From UK North Sea
New UK North Sea-focused oil and gas company Tailwind Energy has announced first oil from the 100% owned Gannet E redevelopment to the Triton FPSO. The London-based contracts services company for North Sea work said in a press note that the subsea tieback project was completed in September 2018 with first oil delivered on budget and on schedule.All three wells are producing higher than expectation providing a combined rate of ca.10kbbl/d…
Sonatrach Awards Gas Contract to Petrofac
Algerian state energy firm Sonatrach awarded a contract worth 60 billion dinars ($506 million) on Tuesday to Britain's Petrofac to boost gas output at the Tinhert field by 4.7 million cubic metre per day, Sonatrach's CEO said.The value was about $100 million less than originally announced.
Petrofac Hires Chief Digital Officer
Petrofac has appointed Fady Sleiman Chief Digital Officer as the oilfield services company continues its digital transformation. He will be based in Petrofac’s Middle East office in Sharjah.Fady joins from MENA investment company Waha Capital, where he was Chief Information Officer/Group Head of IT for the Abu Dhabi based company from 2014. Prior to that Fady was CIO and Head of Innovation Centre Strategy for General Electric MEA based in Dubai…
OPITO Appoints Cullens as Director of Strategic Development
OPITO, a global, not-for-profit skills body for the energy industry, has appointed Mark Cullens to the new role of director of strategic development.Cullens, who joins from Petrofac Training Services where he was director of business development Eastern Hemisphere, will support OPITO as it extends its skills and workforce development remit internationally.With a 20 year career in training and education, Cullens will be based…
Petrofac Secures Well Engineering Contracts
Petrofac has strengthened its global Well Engineering contracts portfolio following a series of award wins worth a combined value of around $20 million.Petrofac secured an exclusive five-year Well Operator Services contract from independent Exploration & Production company, Tailwind Energy Ltd (Tailwind), following Tailwind’s recent purchase of the Triton Cluster. Under the terms of this arrangement, Petrofac will act as Well Operator for the Gannet E…
Chevron Extends North Sea Contract with Petrofac
Petrofac’s Engineering and Production Services (EPS) division has secured a 12-month engineering services contract extension from Chevron North Sea Limited. The agreement, which has been held by Petrofac since 2014, commenced on September 30.In line with the contract scope, Petrofac will continue with the provision of engineering support to Chevron’s key North Sea assets including the Alba Northern, Erskine, and Captain platforms…
Petrofac Consortium Awarded USD 4bn Project in Thailand
Petrofac, the international oil and gas services provider, leading a consortium with Saipem and Samsung Engineering, has received an award notification for Thai Oil Public Company Limited’s (Thai Oil) Clean Fuels Project on the East coast of Thailand.The overall project value is around US$4 billion, of which Petrofac’s share is around US$1.4 billion, and will be completed over a period of approximately four years.The project will transform the existing oil refinery in Sriracha…
Danos and Petrofac to Form Alliance
Danos and Petrofac, a London-based provider of oilfield services to the international oil and gas industry, have signed an agreement that will enable the formation of a Joint Venture (JV). The alliance will allow for the pursuit of joint opportunities to deliver services across the oil and gas asset life cycle, with a focus on supporting operations and asset management solutions in the Gulf of Mexico and U.S. shale plays.