Petrofac Extends Jasmine Venture FPSO Lease
- Business & Finance
Petrofac, the international oil and gas services provider, announces that Mubadala Petroleum Thailand, has taken up an option to extend its lease of Petrofac’s Jasmine Venture floating production, storage and offloading facility (FPSO) for up to four additional years.
The FPSO is currently deployed on the Jasmine field in the Gulf of Thailand and Petrofac will continue to provide operations and maintenance services for the Jasmine Venture through its Offshore Projects & Operations business.
Petrofac acquired the Jasmine Venture from Mubadala Petroleum in June 2011.
Rob Jewkes, Chief Operating Officer, Petrofac Integrated Energy Services, said: “We are delighted that Mubadala Petroleum Thailand has extended the lease on the Jasmine Venture FPSO. As both owner of the FPSO and its service provider, Petrofac will continue to support our client’s requirements on this project while working with them to identify potential areas for further support on this and future projects in the Gulf of Thailand.”
David Johnson, President, Mubadala Petroleum Thailand, said: “We appreciate Petrofac’s support on the Jasmine field, through the lease of critical field infrastructure and associated operations and maintenance services. The safe and cost effective provision of these services is an important element of our plans to continue to extend the profitable life of the field, which has just recorded 50 million barrels of oil production, significantly beyond original expectations.”
Press Release, January 29, 2014; Image: Modec