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Petrofac doubles UK wells with Neo Energy contract

Petrofac unite

Petrofac has doubled the size of its offshore wells portfolio in the UK North Sea after winning a new contract with Neo Energy.

The two-year deal will see the energy services firm provide well management and operator support across Neo’s newly-acquired Affleck, Balloch, Dumbarton, Flyndre and Lochranze fields.

Petrofac has not disclosed the contract value which covers 25 production wells.

The firm said the work positions it to support future well construction and intervention campaigns.

As well operator, Petrofac will also be responsible for managing all sub-contracted services.

It brings Petrofac’s total portfolio to 50 in the region.

Nick Shorten, managing director for Western Hemisphere engineering and production services, said: “Through the deployment of our extensive asset and well management expertise, we will work closely with Neo Energy to assure the integrity of its wells and deliver safe and cost efficient construction in support of any future field development.

“This award builds on our existing track record for delivering Well Operator services for clients in the UKCS, bringing the size of our well portfolio in the basin to 50.”

Neo Energy was formed in October when private equity owners Hitec Vision combined Neo with Aberdeen-based Verus Petroleum.

In May, Oman-based Petrogas pulled out of a deal for a package of Total-operated assets, clearing the way for Neo Energy to complete the deal.

Paris-headquartered Total first announced the $635 million (£520m) sale of the assets – inherited via its takeover of Maersk Oil – in July last year.

The package included operated stakes in the Dumbarton, Balloch, Lochranza, Drumtochty, Flyndre, Affleck and Cawdor fields, and non-operated interested in Golden Eagle, Scott and Telford, run by Chinese firm Cnooc.

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