May 28 Oil and gas services group Petrofac Ltd
said it received a contract worth $630 million from
EnQuest Plc to provide operations and maintenance
services at EnQuest's North Sea assets.
The contract is for up to 10 years and supersedes an initial
five-year contract awarded to Petrofac last year. It will also
support 300 offshore and onshore jobs, Petrofac said on
Petrofac will continue to provide services to EnQuest on the
Thistle, Heather and Northern Producer assets. EnQuest
specialises in extending the life of old oil fields.
Petrofac will also work on the floating production, storage
and offloading vessel the 'EnQuest Producer' ahead of its
deployment to the Alma/Galia field in the North Sea.
Shares in Petrofac, which earlier this month cut its 2014
profit forecast by 11 percent due to poor performance of its
flagship projects, were up about 1 percent at 1262 pence at 0943
GMT on the London Stock Exchange.
(Reporting by Karen Rebelo in Bangalore; Editing by Gopakumar