Petrofac Stays on Neptune's Cygnus Platform as $14M Extension Agreed

July 6, 2021

Cygnus - File Photo: Neptune Energy
Cygnus - File Photo: Neptune Energy

UK-based oilfield services company Petrofac has secured a three-year contract extension from Neptune Energy for the provision of operations and maintenance services for Neptune Energy’s Cygnus Alpha platform in the Southern North Sea. 

The contract extension, valued at around $14 million, comes into effect on January 1, 2022. It includes options to extend its term.

Petrofac began working on the pre-operational phase of Cygnus – dubbed the largest gas field discovery in the Southern North Sea for 30 years – in 2011. 

"Today, in addition to its operations and maintenance services contract, Petrofac provides engineering services and emergency response support to Neptune Energy," Petrofac said.

Chief Operating Officer Nick Shorten said: "People power our delivery. Our support of Neptune Energy, like many of our North Sea clients, focuses on the provision of skilled personnel who work hard to drive value through safe and efficient operations. 

"The renewal of this long-standing contract recognizes the commitment and expertise of our team, and the knowledge they have built of the asset. What better way to celebrate ten years supporting the Cygnus field."

Cygnus is capable of producing approximately 6% of UK domestic gas demand.




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