One-Year Extension: Petrofac to Keep Servicing NEO Energy's North Sea Assets


April 13, 2021
Credit; Total

Credit; Total

Oilfield services company Petrofac has secured a one-year extension to its integrated services contract with NEO Energy in the UK North Sea.

"The extension, awarded eight months ahead of the renewal date, takes Petrofac’s contract for operations, maintenance, engineering and construction support for NEO Energy’s UK activities, through to December 2022," Petrofac said Tuesday.

Petrofac supported the transition of operations on the Quad 15 & Flyndre area in 2020 following NEO Energy’s acquisition of the assets from Total, and assumed responsibility for NEO's ongoing operations, maintenance, engineering and construction under its integrated delivery model.

In July 2020, under a separate two-year agreement, Petrofac’s well engineering team was selected by NEO Energy to provide Well Management and Well Operator support for 25 production wells across the Affleck, Balloch, Dumbarton, Flyndre, and Lochranza fields.

As reported last year, NEO Energy, backed by HitecVision, bought a package of Total's assets in the UK North Sea.

The transaction consisted of four producing areas of the UK North Sea, with an average 2019 production of approximately 23,000 boepd and substantial development upside. The assets were previously owned by Maersk Oil, which Total acquired in March 2018.

The portfolio added reserves of c. 51 MMboe to NEO Energy. The transaction included operatorship of two asset clusters, the Quad 15 and Flyndre areas, and an operator organization of more than 60 employees and contractors.

No comments

More Popular Posts

About Crude Oil Brokers Ltd

Crude Oil Brokers Ltd is a dedicated global broker and facilitator of crude oil buying and selling. We work directly with crude oil buyers and crude oil sellers worldwide. We are a United Kingdom and Nigerian based firm, privately owned and devoted to the brokering of crude oil and other petroleum products buying and selling.

We have buyers and sellers of;

1. Nigerian Bonny Light Crude Oil, BLCO

2. D2 Diesel Fuel, JP54 Jet Fuel, Mazut etc.

3. Saudi Light Crude Oil, SLCO

4. Iraqi Light Crude Oil

If you are a buyer or seller of crude oil or other petroleum products or have mandate to buy or sell any of the above oil products, do contact us because we could be of help.

To contact Crude Oil Brokers, click here ». To learn more about Crude Oil Brokers Ltd, click here

Crude Oil Brokers