Three60 Energy scores duty holder deal for Galoc field FPSO
Energy services group Three60 Energy has been awarded a contract for the provision of duty holder O&M services to the FPSO Intrepid offshore the Phillippines.
The FPSO Intrepid is currently producing from the Galoc Field, located offshore Palawan Island in the Philippines.
Three60 Energy did not reveal the financial terms of the deal but did describe it as a “multi-million-pound contract”.
Under the terms of the life of field contract, the company will carry out operations and maintenance duties on behalf of the Galoc JV, to improve performance and extend the field’s economic life.
As well as providing ongoing O&M services, the company will also support integrity, engineering, procurement, construction, and decommissioning activities for the project, which marks the first duty holder O&M services award for Three60 Energy outside the UK North Sea.
According to the company, the award will lead to the creation of 15 jobs across the UK, Philippines, and Malaysia. All of this is part of Three60 Energy’s plan to add 50 new staff members to its team globally over the next 12 months, in response to a growing demand for its services.
Walter Thain, CEO of Three60, said: “To have been selected to operate and maintain the FPSO Intrepid, our first international duty holder O&M services award, is a really important strategic milestone for the business.
“As well as providing important recognition of our growing reputation for, and competence in, the provision of O&M services, it also highlights the increasing demand we are seeing for our wider late-life asset management capabilities, leadership experience and passion for differentiated, safe delivery – both for ongoing operations and future decommissioning activities.
“We are looking forward to partnering with the Galoc JV to deliver safe and efficient outcomes within the international market”.
This latest award follows another “multi-million-pound” contract from Norwegian operator DNO for the provision of duty holder services for two assets in the UKCS.