Petrofac Inks $120M Deal to Support Petronas' Workforce Training Program
International oil and gas services provider Petrofac announced Monday that it has inked a $120 million agreement with Petronas, the Malaysian National Oil Company, for the operation and management of two high-specification training facilities that Petrofac is building to support Petronas’ workforce capability enhancement program.
Petrofac is currently constructing two “live” upstream plant training facilities, and a “live” downstream facility, which will supplement existing facilities at the Institut Teknologi Petroleum Petronas training academy in Terengganu, Malaysia.
Under the latest phase of the agreement, Petrofac will undertake the ongoing management and operation of the two upstream facilities, which are capable of training 500 delegates each year, for the next five years with an option to extend for a further two years.
The agreement follows an earlier Memorandum of Understanding between Petrofac and Petronas aimed at exploring how the companies could collaborate in competency development and capability building. The operations and management components of the agreement, to be delivered by Petrofac Training Services (PTS), marks the largest contract win in the history of PTS.
Andy Inglis, chief executive of Petrofac Integrated Energy Services, commented: “We are delighted that we are continuing to build on the existing relationship with our long-term customer Petronas to support its goal of enhancing Malaysian workforce capability in the oil and gas sector. Training is a core part of the IES offer and the award of our biggest training contract to date demonstrates our growing scale in an area which international and national oil companies have high on their agendas. The creation of this regional center of excellence will enable Petronas to ensure the development of a highly-skilled resource pool to meet its own and industry needs now and in the decades ahead.”
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