Petrofac to support new operator of Sean gas field in North Sea
- Business & Finance
Petrofac has secured a contract to support Oranje-Nassau Energie (ONE) UK Limited, a subsidiary of Amsterdam-based oil and gas producer Oranje-Nassau Energie B.V., as the company has become operator of the Sean gas field in the Southern North Sea as of June 1, 2015.
The contract, for Duty Holder Support Services, is worth $45 million over three years, with the option of two one-year extensions, and it starts immediately.
The Sean assets comprise a manned, bridge-linked wellhead and production platform, a normally unmanned installation and a 30” export pipeline to Bacton. The facilities are located 68 miles offshore, north-east of Lowestoft.
Petrofac says that the contract will support around 40 on and offshore jobs and will see Petrofac provide operations and maintenance services plus a range of ancillary functions.
Walter Thain, Managing Director, Petrofac Offshore Projects and Operations said: “ONE is entering the UK market for the first time as an offshore operator and we’re delighted to be assisting them in this process through our Duty Holder Support Services model. This award reflects our long track record, not just of successful operations in the Southern North Sea, but of supporting independent oil companies to make the transition to operator in the UKCS environment. ONE has significant ambitions as an operating company and we look forward to facilitating and supporting their future plans.”
Alexander Berger, Oranje-Nassau Energie B.V.’s CEO, said: “Our ambition is to become the preferred Southern and Central North Sea operator. We are pleased to have attracted Petrofac to help us in this transition phase and develop our own UK operating team. We are optimistic about the growth prospects of the Sean area and believe that our experience, coupled with our strong balance sheet, makes us well positioned to capitalise on other opportunities.”
According to the press release, Petrofac has been supporting ONE throughout its preparations for Transfer of Operatorship, including in its interface with UK regulators, following its 50% interest purchase in the field from Shell U.K. Limited and Esso Exploration and Production UK Limited.
Image source: Shell UK