Petrofac awarded contract renewals worth $400m

Petrofac's offshore project & operations business unit has won repeat orders for operations and maintenance work worth around $400m on the UK Continental Shelf (UKCS).

The largest award will see it provide operations and maintenance teams for CNR International across its North Sea assets for the next five years.

The unit's managing director, Walter Thain, said: "This package is great news for the business and for everyone involved.

"In the current climate, more than ever, it is vital that operators can have confidence in the supply chain to continue to generate value for them. This large-scale renewal - of contracts that we have held in some cases for more than a decade - is testament to our record of sustained operations delivery on behalf of our customers right across the UKCS."