Petrofac

The North Caspian Project in Kazakhstan covers the Kashagan, Kairan, Aktoty, and Kashagan South West fields.

Petrofac’s well management contract comes nearly a month after IOG received approval for phase 1. The contract also follows an EPC contract awarded to Subsea 7 in May.

The two companies worked together in 2019 to improve execution techniques where Petrofac digitalized maintenance and inspection activity.

The contracts were awarded in February. Petrofac said it is working with ADNOC to explore alternative options.

Petrofac continues working relationship with UAE following contract awards for Dalma Gas Development project.

The deal comes months after the jointly owned Petrogas NEO UK acquired several UK North Sea assets, including a $635-million purchase of Total's stakes in various fields last July. The 2-year deal with Petrofac is valued around $50 million.

Petrofac sold its 50% interest in Petro-SPM Integrated Services to Schlumberger. Petro-SPM operates the Pánuco Integrated Service Contract in Mexico. Schlumberger now owns 100% of Petro-SPM.