Petrofac, a leading provider of services to the global energy industry, has extended its work in the UK’s North Sea with a two-year, US$50 million contract renewal from Ithaca Energy.

Under the integrated services contract, Petrofac, who has supported Ithaca Energy since 2011, will continue to provide operations, maintenance, engineering, construction, and onshore and offshore technical expertise. The scope extends across Ithaca Energy’s North Sea operated asset base, which includes Alba, Captain, Erskine and FPF-1.

John Pearson, Chief Operating Officer of Petrofac’s Asset Solutions and Energy Transition Projects businesses, commented:
“The continuation of our longstanding relationship with Ithaca Energy is testament to the safe and reliable delivery of operations services by our team, who have been embedded on these assets for well over a decade. The North Sea is one of Asset Solutions’ core markets and this award underlines the commitment from both Petrofac and Ithaca Energy to the region. We remain focused on supporting Ithaca Energy to maximise safe, efficient and responsible production from its assets.”

About Petrofac

Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world’s leading energy companies. Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world’s evolving energy needs. Petrofac’s core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, South East Asia and the United States. We have 8,500 employees based across 31 offices globally.

About Ithaca Energy plc

Ithaca Energy is a leading UK independent exploration and production company focused on the UK North Sea with a strong track record of material value creation. In recent years, the Company has been focused on growing its portfolio of assets through both organic investment programmes and acquisitions and has seen a period of significant M&A driven growth centred upon two transformational acquisitions in recent years. Today, Ithaca Energy is one of the largest independent oil and gas companies in the United Kingdom Continental Shelf (the “UKCS”), ranking second by resources.

With stakes in six of the ten largest fields in the UKCS and two of UKCS’s largest pre-development fields, and with energy security currently being a key focus of the UK Government, the Group believes it can utilise its significant reserves and operational capabilities to play a key role in delivering security of domestic energy supply from the UKCS.

Ithaca Energy serves today’s needs for domestic energy through operating sustainably. The Group achieves this by harnessing Ithaca Energy’s deep operational expertise and innovative minds to collectively challenge the norm, continually seeking better ways to meet evolving demands.

Ithaca Energy's commitment to delivering attractive and sustainable returns is supported by a well-defined emissions-reduction strategy with a target of achieving net zero ahead of targets set out in the North Sea Transition Deal.