Petrofac Wins $14m Contract Extension With Neptune


Petrofac, the leading international service provider to the energy industry, has been awarded a three-year contract extension from Neptune Energy valued in the region of US$14 million, says a news article published on their website.

About the contract

The renewal, which comes into effect on 1 January 2022, includes the provision of operations and maintenance services for Neptune Energy’s Cygnus Alpha platform in the Southern North Sea. The contract incorporates options to extend its term.

Petrofac began working on the pre-operational phase of Cygnus – the largest gas field discovery in the Southern North Sea for 30 years – in 2011. Today, in addition to its operations and maintenance services contract, Petrofac provides engineering services and emergency response support to Neptune Energy.

The renewal of this long-standing contract

Chief Operating Officer Nick Shorten said: “People power our delivery. Our support of Neptune Energy, like many of our North Sea clients, focuses on the provision of skilled personnel who work hard to drive value through safe and efficient operations. The renewal of this long-standing contract recognizes the commitment and expertise of our team, and the knowledge they have built of the asset. What better way to celebrate ten years supporting the Cygnus field.”

Capable of producing UK gas demand

Cygnus is a crucial component of the UK North Sea energy infrastructure, capable of producing approximately 6% of UK domestic gas demand.

Strengthening relationships with service partners

Neptune Energy’s UK Managing Director, Alexandra Thomas, said: “Petrofac has been an integral part of the team at Cygnus over the past decade. The awarding of this contract extension ensures we retain skilled personnel with in-depth knowledge of the asset and underlines our commitment to strengthening our relationships with service partners.”

Did you subscribe to our daily newsletter?

It’s Free! Click here to Subscribe!

Source: Petrofac


This site uses Akismet to reduce spam. Learn how your comment data is processed.