Petrofac Wins Australia Decom Contract

Petrofac Wins Australia Decom Contract
Plug and abandonment operations will take place in the offshore Vulcan Basin.

PTT Exploration and Production (PTTEP) (BKK: PTTEP) has awarded Petrofac’s Engineering and Production Services (EPS) business a well project management contract for work in the Vulcan Basin offshore North West Australia, Petrofac (OTCMKTS: POFCY) reported Tuesday.

Petrofac stated the contract calls on it to provide all project manpower for the execution of plug and abandonment operations on two of PTTEP’s remaining Vulcan Basin subsea wells. The firm noted that work will include detailed planning, procurement services including tendering a semi-submersible rig, and managing operations and sub-contracted services.

“The award of this contract is testament to our track record for delivering well engineering and decommissioning services for our clients globally,” remarked Nick Shorten, managing director for Petrofac EPS (West), in a written statement. “Our teams have operated in Australia for more than a decade working on some of the region’s largest energy developments, but we are particularly excited to be deploying our well project management capability and expertise there for the first time.”

According to Petrofac, the PTTEP decommissioning contract contributes to its ongoing expansion efforts in the Australasia region.

“When it comes to decommissioning, we understand the focus on cost and schedule is as important as ever,” concluded Shorten. “We look forward to working closely with PTTEP to deliver a safe and predictable plug and abandonment campaign.”

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