Petrofac, the international oil & gas service provider, has announced the appointment of Yves Inbona as Managing Director of its Offshore Capital Projects (OCP) business. OCP will form part of the Group’s Engineering, Construction, Operations & Maintenance (ECOM) division and Inbona will report directly to divisional Chief Executive, Marwan Chedid.
This appointment, and the creation of a fourth service line within the ECOM division comes in response to the increased demand Petrofac sees for both reimbursable brownfield and offshore capital projects. Currently these activities are managed within Offshore Projects & Operations (OPO), alongside Petrofac’s operations, maintenance and modifications capability. The establishment of a separate service line under Inbona’s leadership will enable Petrofac to focus on the growth and development of the engineering, procurement, installation and commissioning (EPIC) market, while at the same time building the OPO business.
Commenting on the appointment and the formation of OCP, Marwan Chedid, Chief Executive of Petrofac’s ECOM division said: “Yves will join Petrofac on 10 June 2012. We are delighted to welcome him to ECOM as he brings extensive international expertise in the offshore sector to the division with more than 30 years of industry experience. During his time as Chief Operating Officer of Saipem Spa, Yves managed the offshore business, the largest of Saipem’s business units. Under both Bill and Yves’ leadership the OPO and OCP teams will be able to focus on building our reimbursable brownfield and offshore capital projects activities respectively, to capitalise on the demand we see for these services.”
Commenting on his appointment Yves Inbona said: “Petrofac has great ambitions for the growth of its offshore business. I am delighted to be joining the Group to lead the OCP business within ECOM and look forward to working with the teams to deepen our experience and capability in this sector of the market. Although less well known than its onshore activities, Petrofac’s track record in executing major turnkey offshore projects is already impressive, and I view this as an excellent basis for future growth and continuing to deliver value for our customers.”
OCP represents a fourth service line in the ECOM division; however, for the purposes of segmental reporting, the activities of both OCP and the existing OPO service lines will continue to be reported as one segment called Offshore Projects & Operations.