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  • Petrofac extends relationship with Mubadala Petroleum in Thailand
    édité le 31/10/2016 - Plus de news de "Petrofac" - Voir la fiche entreprise de "Petrofac"


Petrofac extends relationship with Mubadala Petroleum in Thailand
Petrofac has extended its relationship with Mubadala Petroleum with the award of new and modified contracts relating to the FPF-003 floating production, storage and offloading vessel located in the Jasmine/Ban Yen field in the Gulf of Thailand.

The parties have signed a new ‘life of field’ agreement for the provision of operations and maintenance (O&M) services which has the potential to run until 2023. Under the contract terms Petrofac will deliver an optimised scope designed to reduce Jasmine’s operating costs and to create operational efficiencies which will underpin the viability of the mature field development.

An extension to the associated charter lease for the vessel’s Bareboat Charter (BBC) has been signed between Mubadala and PetroFirst Infrastructure Limited .

Manivannan Rajapathy, Managing Director of Petrofac Engineering & Production Services East, said: “We are delighted to be continuing our long-held relationship with Mubadala Petroleum and to be maintaining continuity of our O&M service delivery on the FPF-003. Through our existing relationship our teams have remained focused in supporting safe and effective production and earlier this year celebrated six years without a lost time incident.

“Our continued focus on safe delivery in line with driving differentiated and optimised approaches will characterise this next stage of our relationship as we work to support Mubadala Petroleum to maximise the value and oil recovery of the Jasmine field.”

Musabbeh Al Kaabi, CEO of Mubadala Petroleum, said: “We are pleased to be able to continue our relationship with Petrofac on the Jasmine field. The new arrangements will support the ongoing commerciality of the field as well as providing important continuity in this mature operation.

Jasmine has been a remarkable success story, having produced over 60 million barrels, several times more than original estimates of recoverable reserves. We believe there is more to come but it is a complex set of reservoirs and a mature asset, so a competitive and flexible approach to operations is vital. Mubadala Petroleum will continue implementing and pursuing best in class practices to maximize value and oil recovery.”

About Petrofac

Petrofac is an international service provider to the oil and gas production and processing industry, with a diverse customer portfolio including many of the world’s leading integrated, independent and national oil and gas companies. Petrofac designs, builds, operates and maintains oil and gas facilities, delivered through a range of innovative commercial models, enabling it to respond to the distinct needs of each client and helping them to transform the value of their assets across the oil and gas life cycle. Petrofac’s service offering is underpinned by its ability to develop resource holders’ local capability through the provision of skills training with competency development and assurance frameworks. Around 20,000 employees operate out of seven strategically located operational centres, in Sharjah, Aberdeen, Abu Dhabi, Woking, Chennai, Mumbai, and Kuala Lumpur and a further 24 offices worldwide. Petrofac is quoted on the London Stock Exchange (symbol: PFC).

About Mubadala Petroleum

The Jasmine field is operated by Mubadala Petroleum, which holds a 100 percent interest. 2016
average year to date production is approximately 13,000 barrels of oil per day.

Jasmine production, together with that from Manora and Nong Yao fields, also operated by Mubadala Petroleum, make the company the second largest crude oil producer in Thailand.

Mubadala Petroleum is an international, upstream oil and gas exploration and production company. We were established as a wholly-owned subsidiary of Mubadala Development Company in June 2012, incorporating and building on the success of Mubadala’s existing investments in the sector.

We manage assets and operations spanning eight countries with a primary geographic focus on the Middle East, Africa, and Southeast Asia. Our current working interest production is averaging approximately 350,000 barrels of oil equivalent per day.


Origine : Communiqué Petrofac

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