Neptune renews Petrofac contract on Cygnus
Oilfield services provider Petrofac has been awarded a three-year contract extension from Neptune Energy valued in the region of $14 million.
Petrofac said on Tuesday that 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.
Petrofac 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 recognises 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”.
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”.
The Cygnus field is a crucial component of the UK North Sea energy infrastructure, capable of producing approximately 6 per cent of UK domestic gas demand.
Neptune has recently revealed plans to partner with Spirit Energy on the development of the Pegasus West gas discovery in the UK Southern North Sea. As a result, the Cygnus gas field platform will become the host platform for the Pegasus development.