05 December 2005
Petrofac Secures Long-term Contract with CNR International
Petrofac, the oil and gas service operator, announces today that it has received a Letter of Intent from CNR International (UK) Limited under which it has been asked to provide Operations Support services for four fixed installations in the UK Continental Shelf comprising the Ninian and Murchison fields. Petrofac has provided services to these facilities since the mid 1990’s. CNR acquired these assets from Kerr-McGee and became operator of the fixed installations in December 2002.
The contract has an estimated value of £20 million and will commence in 2006 initially for five years with the intent of continuing for the life of the assets. The contract secures work for over 300 skilled offshore operations, maintenance and services personnel, as well as 30 onshore support staff.
Commenting on the significance of the contract, John Methven, European Operations Director added: “CNR is a major player in Mature North Sea Asset operations and this is a key contract for Petrofac. It further strengthens a successful business relationship and demonstrates the confidence CNR has in Petrofac’s abilities. It is our intent to work with CNR to maintain and grow its presence in the North Sea.”