Petrofac Extends Successful Relationship with NEO Energy

Source Press Release
Company PetrofacNEO Energy 
Tags Upstream Activities, Service Contracts, Strategy - Upstream
Date January 26, 2022

Petrofac, a leading international service provider to the energy industry, announced today a five-year contract extension for Well Management and Well Operator Services with NEO Energy.
Petrofac will provide a five-year framework for Well Management and Well Operator support for 27 wells across the Affleck, Balloch, Dumbarton, Lochranza and Finlaggan fields located in the Central North Sea, UK. The contract also positions  Petrofac to support future well construction and intervention campaigns.

Nick Shorten, Chief Operating Officer for Petrofac’s Asset Solutions business, said:

"As Well Operator for over 50 wells on behalf of seven clients, including NEO Energy, this award allows us to build on our exemplary track record of delivering Well Operator services in the UKCS."Unlocking long-term value for our clients is of the utmost importance to Petrofac. Since taking on Well Management and Well Operator responsibilities on behalf of NEO in 2020, we have proactively managed the integrity of existing well stock, supported the successful startup of the Finlaggan Field and continued to plan and prepared for execution of production enhancing intervention and new well construction campaigns in 2022/23. We have achieved this thanks to our close working relationship with NEO and our commitment to enhancing value and delivery excellence.”

Today's announcement builds on Petrofac's previously awarded Integrated Services Contract for NEO Energy. The contract, which began in 2020 and was extended early in 2021, involves provision of ongoing operational, maintenance, engineering, and construction support for the Operator's UK activities while retaining direct procurement and managing sub-contracted services.

Source: EvaluateEnergy® ©2022 EvaluateEnergy Ltd