Petrofac picks up $350-million Equatorial Guinea contract

MALABO, April 18, 2024 – Petrofac has been awarded a contract valued at around USD 350 million to provide technical services for Equatorial Guinea’s NOC, GEPetrol, the UK company announced on Thursday.

Services will be provided over a five-year span at GEPetrol’s Block B asset at onshore support bases, an FPSO and a platform.

The scope of services includes operations, maintenance, asset integrity, integrity management, marine services, well engineering, project delivery and supply chain services.

“This award is an excellent example of our strategy in action: selectively growing our geographic footprint and driving value for our clients through late life asset optimisation,” Petrofac Asset Solutions COO Nick Shorten said.

The company has previously worked on the block as part of its transition from Mobil Equatorial Guinea’s operatorship. GEPetrol will assume operatorship on June 1.

Block B is home to the Zafiro oilfield, which has estimated recoverable resources of 1.19 billion barrels of oil.

Image courtesy of Petrofac.

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