Petrofac, the international oil & gas facilities service provider, has been awarded its first Production Enhancement services contract by Petrom in Romania. Under the terms of the contract, Petrofac’s Production Solutions business will provide production enhancement services to Petrom as the concession holder for the Ticleni oilfield and its eight satellite fields (Ticleni). The initial 15-year contract, which includes an option for extension by a further ten years, is effective immediately.
Ticleni, a mature onshore field which has been operating for some 60 years, is located in South-western Romania and has more than 1,000 wells, of which around 300 are currently producing a total of approximately 4,500 barrels of oil per day. Under the Production Enhancement contract Petrofac will provide a range of services to increase production through improving recovery rates, optimise operational efficiencies and invest to upgrade the facilities. Petrofac will be paid a tariff per barrel of oil produced, including an enhanced tariff for incremental production.
Petrofac will manage all aspects of the fields’ activity on behalf of Petrom, including the responsibility for the employees currently working in Ticleni, who will be transferred to Petrofac under the terms of the contract.