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Petrofac £65m contract extensions

PETROFAC, which employs around 4200 people in Aberdeen, has won extensions to North Sea contracts worth a total of £65 million.

The oil services giant has been contracted by Total to provide services on the Alwyn and Dunbar platforms, 260 miles north-east of Aberdeen, for a further two years. It employs around 200 people on the contract.

Petrofac has won a renewal of its contract to operate the Kittiwake platform 100 miles north-east of Aberdeen until the end of 2014. This follows the transfer of the facility from Centrica, which owns Scottish Gas, to Enquest. Around 115 Petrofac employees work on the contract.

The company has won a two-year extension of a contract to provide operations support on the Rough offshore storage facility, 20 miles off Yorkshire, for Centrica. It has 115 people working on the contract.

Success in the North Sea has helped compensate for challenges faced by Petrofac on flagship overseas contracts. In November it said it expected to see little or no growth in net income in 2014, reflecting the re-phasing of the Upper Zakum project in Abu Dhabi and the second stage of the Berantai project in Malaysia. Petrofac said then the offshore projects and operations division, which works on existing assets in areas such as the North Sea, "continues to perform well".

In August, Petrofac noted increased levels of activity in the North Sea from core clients such as Apache and Enquest.

Petrofac is working on a big contract to build a gas plant on the Shetland mainland to handle production from Total's giant Laggan Tormore development off the isles.

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