Petrofac, Saipem Bag Multimillion Deal for UK Platform Decommissioning

Petrofac Inc. and Saipem SpA have jointly secured a contract for the decommissioning of a platform in the UK sector of the North Sea. The undisclosed contract, termed a “multimillion pound” deal, will involve the integrated efforts of both companies to prepare and remove the 20,000-metric-ton topside, utilizing the Saipem 7000, one of the largest semi-submersible heavy lifting vessels globally. Petrofac’s role in the three-year project will span two phases, focusing on preparations onboard the platform in the initial phase and the actual removal campaign aboard the Saipem 7000 in the second phase. Petrofac’s responsibilities include module separation, lift point inspection, lift point installation, riser, and caisson severing.

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Nick Shorten, COO of Petrofac Asset Solutions, emphasized the importance of decommissioning in facilitating the transition to cleaner energy sources. He expressed anticipation in leveraging Petrofac’s extensive experience in North Sea operations and decommissioning to ensure a safe and predictable program, serving as a potential case study for the region’s energy transition.

Additionally, Petrofac has been granted a three-year contract extension, valued at over $100 million, to provide operations and maintenance services in support of Repsol Sinopec Resources UK’s North Sea operations. The extension underscores the growing relationship between Petrofac and Repsol Sinopec, showcasing Petrofac’s commitment to safe and effective operations across various North Sea assets, including Arbroath, Auk, Bleo Holm, Claymore, Clyde, Fulmar, Montrose, Piper, Saltire, Tartan, Flotta Oil Terminal, and Nigg Oil Terminal.

In a separate project, ADNOC Gas plc recently awarded a $615 million engineering, procurement, and construction (EPC) contract to Petrofac Emirates LLC for the construction of carbon capture units, pipeline infrastructure, and a network of wells at the Habshan gas processing plant. This initiative is part of Abu Dhabi National Oil Company’s (ADNOC) accelerated decarbonization plan, with the project aiming to capture and store 1.5 million tons per annum of carbon dioxide in underground geological structures by 2026.