Petrofac’s Engineering and Production Services (EPS) enterprise right now proclaims the award of a multi-million greenback Integrated Services Contract with Ithaca Energy (Ithaca).
In a brand new five-year deal, Petrofac will combine operations, upkeep, engineering, building, and onshore and offshore technical assist throughout Ithaca’s North Sea operated asset base.
The contract extends Petrofac’s current working relationship with Ithaca, in addition to the period and breadth of companies it gives for the Alba, Captain, Erskine and FPF-1 belongings, constructing on the operations, engineering and assist companies it has been offering since 2011.
Having expanded its in-house capabilities, Ithaca will assume Safety Case accountability for the FPF-1 asset, while Petrofac continues to supply all companies and 96 offshore staff members for the asset below the brand new contract.
Commenting, Nick Shorten, Managing Director for Petrofac’s EPS enterprise within the Western Hemisphere, stated: “Now greater than ever, it’s important that operators can believe within the provide chain to generate worth for them. We’re reaching this for our purchasers by combining our built-in method with the most recent digital know-how to drive efficiencies and enhance productiveness.
“Ithaca’s resolution to increase our service provision demonstrates its confidence in our capacity to supply built-in assist companies that improve operational effectiveness. We look ahead to constructing on our long-standing working relationship by supporting our consumer to maximise the worth of its belongings.”
Bill Dunnett, Chief Executive Officer, Ithaca Energy, stated: “The breadth of this settlement is a wonderful instance of the long-standing collaboration between Ithaca Energy and Petrofac, which is designed to understand economies of scale, maximising the worth and potential of our belongings.
It gives the chance to drive additional efficiencies and leverage our in-house capabilities by means of the switch of the FPF-1 obligation holder. Our continued sturdy partnership with Petrofac is essential in delivering protected, simplified and streamlined operations.”
Ithaca Energy is a UK North Sea oil and fuel operator centered on the supply of decrease threat progress by means of the appraisal and growth of undeveloped discoveries and the exploitation of its current producing asset portfolio. Ithaca has a stable and diversified UK producing asset base producing important free cashflow, primarily from oil manufacturing. Current growth actions are centered on the construct out of the Ithaca operated manufacturing hub within the “Greater Stella Area” of the UK Central North Sea. The Company has its headquarters in Aberdeen, United Kingdom and is wholly owned by the Delek Group.
(Source: Petrofac – Image: Alba platform within the UK North Sea/Ithaca)
The submit PETROFAC AWARDED FIVE-YEAR INTEGRATED SERVICES CONTRACT WITH ITHACA appeared first on Energy Global News.