Petrofac secures $250m North Sea contract

FTSE 250 oil services group Petrofac has secured a five-year contract worth around $250m (£175m) to act as duty holder supporting Anasuria Operating Company, which is a joint venture between Hibiscus Petroleum Berhad and Ping Petroleum.

The Anasuria cluster licences are located 175km east of Aberdeen and consist of the Anasuria FPSO, Teal, Teal South, Guillemot A fields and 38.65% stake in the Cook field.

The contract, which has additional options to extend, secures 65 jobs, with most of the offshore personnel currently supporting the asset transferring to Petrofac.

As part of the contract, Petrofac will assume full responsibility on behalf of AOC for the floating petroleum storage and offloading operations as well as monitoring and managing the pipelines and wells, with the exception of the Cook well.

Petrofac’s offshore projects and operations managing director Walter Thain said: “AOC's acquisition of the Anasuria cluster is really an investment in the future of the North Sea and it is a positive development for our industry during these challenging times.

“We aim to support AOC as they work to realise their vision for Anasuria to increase production and extend the life of field. We will apply our duty holder expertise in the safe delivery of an innovative operating model, designed to eliminate waste and maximise efficiency."