Multi-year extension of Repsol Sinopec deal prolongs Petrofac’s spell of success in North Sea

Oilfield services provider Petrofac has been awarded a three-year contract extension in support of Repsol Sinopec Resources UK’s North Sea operations. This is expected to bring the company over $100 million.

According to Petrofac, the contract extension is for the provision of operations and maintenance services, supporting over 300 jobs across a range of assets, including Arbroath, Auk, Bleo Holm, Claymore, Clyde, Fulmar, Montrose, Piper, Saltire, and Tartan facilities in the North Sea. The company also provides support to Flotta Oil Terminal and Nigg Oil Terminal.

The extension deal builds on the firm’s existing long-term relationship with Repsol Sinopec. Since Petrofac’s initial appointment in 2016, the scope of work has grown steadily with Repsol Sinopec awarding an additional six North Sea assets to the company in 2020.

Nick Shorten, Chief Operating Officer for Petrofac’s Asset Solutions business, commented: “Our relationship with Repsol Sinopec has continued to grow, adapting to new requirements and the operating environment. This contract extension demonstrates our team’s commitment and drive to support Repsol Sinopec through safe and effective operations. We look forward to our continued partnership and collaboration across their North Sea assets.”

This latest extension award builds on Petrofac’s contract successes achieved throughout 2022 and 2023, including decommissioning in Mauritania for Tullow Oil; operations and maintenance for Tullow Oil in Ghana; the provision of offshore operations services for BP’s Greater Tortue Ahmeyim (GTA) project, including an FPSO, in Mauritania and Senegal; and an integrated services contract with CNR International (CNRI) for an FPSO working offshore the Ivory Coast, West Africa.

In addition, the announcement follows four recent operations and maintenance contract renewals in the North Sea.