29 July 2020
Petrofac doubles UK well portfolio with NEO Energy award
Petrofac’s Engineering and Production Services (EPS) business today announces the award of a two-year contract with NEO Energy.
Under the terms of the agreement, Petrofac will provide Well Management and Well Operator support for 25 production wells across the Affleck, Balloch, Dumbarton, Flyndre and Lochranza fields. The contract also positions Petrofac to support future well construction and intervention campaigns.
Today’s announcement builds on Petrofac’s previously awarded Integrated Services Contract for NEO Energy, through which it provides ongoing operational, maintenance, engineering and construction support in support of the Operator’s UK activities.
As Well Operator, Petrofac will be responsible for direct procurement and management of all sub-contracted services. Petrofac will also deploy its industry-leading project management software, Turus, to ensure efficient and assured project delivery.
Commenting, Nick Shorten, Managing Director for Petrofac Engineering and Production Services in the Western Hemisphere, said: “Through the deployment of our extensive asset and well management expertise, we will work closely with NEO Energy to assure the integrity of its wells and deliver safe and cost efficient construction in support of any future field development.
“This award builds on our existing track record for delivering Well Operator services for clients in the UKCS, bringing the size of our well portfolio in the basin to 50.”
Petrofac pioneered the outsourced Well Operator model in 2015. Under regulations set by the Offshore Safety Directive Regulator, it takes responsibility for the monitoring and management of wells on behalf of its clients. Petrofac is currently Well Operator for seven North Sea clients.