Petrofac said that its engineering and production services (EPS) business has bagged a well services contract worth up to $95m from Siccar Point Energy for its operated assets West of Shetland.
The three-year year contract includes options to extend, said Petrofac.
Under the contract, the company will provide well operator and well engineering project management services that include supply chain management for the West of Shetland assets.
As per the terms, Petrofac will undertake all new well work and also the ongoing integrity management of existing well stock.
The company will use WellAtlas, its well project management software, for the project delivery. The software tool supports the full well management and delivery agenda, by offering a comprehensive overview of projects.
Petrofac western hemisphere engineering and production services managing director Nick Shorten said: “We are delighted to have secured this significant new scope with Siccar Point Energy and very much look forward to supporting them in successfully delivering their ambitious exploration, appraisal and development plans, safely and cost efficiently over the next three years.
“This award builds on our existing track record for delivering Well Operator and Project Management services for clients across the globe, but specifically West of Shetland, where we have significant exploration, appraisal and development experience.”
In late 2016, Siccar Point Energy acquired the UK subsidiary of Austrian oil and gas firm OMV for $1bn to take a stake of 11.8% in the Schiehallion oil field, a 20% stake in the Rosebank field and a 5.6% stake in the producing Jade field, all located in the West of Shetlands region.
In August 2018, the company said that it had successfully completed well testing operations on the 204/10a-5 appraisal well in the Cambo field, north-west of Shetland. Siccar Point Energy revealed that the drilling of a vertical pilot hole confirmed more than 100ft of oil column and a higher than expected net pay of 58ft.
Prior to that, in last May, the company was awarded seven blocks during the UK Oil & Gas Authority’s 30th licensing round for the UK Continental Shelf.