Petrofac Wins North Sea Contracts
GDF SUEZ E&P UK Ltd has awarded two significant contracts to Petrofac Offshore Engineering & Operations (OE&O), which will create an estimated 100 new jobs in the North Sea over the next five years.
The integrated services contract (ISC) and engineering services contract (ESC), which start in August 2011, have a combined value of £30 million over three years, with a two year option. The work scope includes the provision of operations, maintenance, engineering and general support services to assist GDF SUEZ E&P UK as it becomes a UKCS (UK Continental Shelf) duty holder for its operated projects, which include notably Cygnus in the Southern North Sea.
Jean-Claude Perdigues, managing director at GDF SUEZ E&P UK, said: "These two new contracts represent a significant milestone for GDF SUEZ E&P UK and will help the company to conduct its North Sea operations safely, efficiently and cost effectively. I look forward to a long and productive relationship with Petrofac OE&O as we work together to generate production and employment in the UKCS."
About GDF SUEZ E&P UK Ltd
GDF SUEZ E&P UK Ltd is involved in the exploration for and production of oil and gas in the Southern and Central North Sea and West of Shetland area. In total, the company employs around 100 staff at the London office and the operations centre in Aberdeen. In the UK, GDF SUEZ E&P holds around 50 exploration licences (19 as an operator) and 16 producing fields located in the UK North Sea. With the ongoing Cygnus and Juliet development projects the proportion of operated production will rise to 50% by 2013. A total of 10 million boe per year is produced by GDF SUEZ E&P UK.
Cygnus is one of the most significant undeveloped gas fields in the United Kingdom Continental Shelf. Analysis of the results from the discovery well and six appraisal wells, together with 3-D seismic evaluations, has led to a preliminary ultimate recovery estimate of at least 15 billion m3 of natural gas and potentially up to 28 billion m3.The development plan is for a four platform complex with two drilling centres and up to 10 wells. Final negotiations are underway on the export route. Project sanction is expected for Q1 2012.
About GDF SUEZ
GDF SUEZ develops its businesses around a model based on responsible growth to take up today's major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources.
The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production and environmental services.
GDF SUEZ employs 218,350 people worldwide and achieved revenues of €84.5 billion in 2010.
The Group is listed on the Brussels, Luxembourg and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone and ECPI Ethical Index EMU.
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