Petrofac has been selected by Petrogas NEO UK a jointly owned company created by Petrogas E&P UK, and NEO Energy, a portfolio company of private equity fund HitecVision to establish its new North Sea operation following its recently announced asset acquisition.
In a two-year deal valued in the region of USD 50M, Petrofac will integrate the services of its Operations, Projects, and Well Engineering service lines. As well as assisting in the transition of operations on the Quad 15 & Flyndre area assets, Petrofac will also provide ongoing operational, maintenance, engineering and construction support; and deliver well engineering and project management support services for Petrogas NEO UKâs activities.
Commenting on the award, Nick Shorten, Managing Director for Petrofacâs Engineering and Production Services (EPS) business in the Western Hemisphere, said: âThis agreement represents a significant new strategic partnership for Petrofac in our core UK market. Our ability to seamlessly integrate services across the asset lifecycle will ensure Petrogas NEO UKâs requirements are efficiently supported as it seeks to safely and responsibly extend field life. We very much look forward to supporting our clientâs first UK venture.â?
