Oil and gasoline firm Ithaca Energy has signed a five-year built-in providers contract with oilfield providers supplier Petrofac.
In the brand new five-year deal, Petrofac will combine operations, upkeep, engineering, development, and onshore and offshore technical assist throughout Ithaca’s North Sea operated asset base.
Petrofac stated on Tuesday that the contract extends its present working relationship with Ithaca, in addition to the length and breadth of providers it gives for the Alba, Captain, Erskine and FPF-1 belongings, constructing on the operations, engineering and assist providers it has been offering since 2011.
Having expanded its in-house capabilities, Ithaca will assume Safety Case duty for the FPF1 asset, while Petrofac continues to supply all providers and 96 offshore workforce members for the asset below the brand new contract.
In a separate assertion on Tuesday, Ithaca stated that, at the side of the implementation of the brand new providers contract, it has made the strategic resolution to turn out to be “obligation holder” for the FPF-1 floating manufacturing facility.
The FPF-1 is situated in Block 30/6a and serves the Ithaca-operated Greater Stella Area manufacturing hub.
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 way of the switch of the FPF-1 obligation holder. Our continued sturdy partnership with Petrofac is essential in delivering protected, simplified and streamlined operations”.
In the UK North Sea, Ithaca Energy has working pursuits in 18 offshore producing fields, together with seven operated fields and eleven non-operated fields. Ithaca Energy’s internet every day manufacturing in 2019 averaged 75,000 barrels of oil equal.
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