Petrofac has extended its relationship with Mubadala Petroleum with the award of new and modified contracts related to the floating production, storage and offloading vessel (FPSO) in the Gulf of Thailand.
The company said both sides have signed a new ‘life of field’ agreement for the provision of operations and maintenance services.
It has the potential to help the Jasmine and Ban Yen field in the Gulf of Thailand run until 2023.
Under the contract terms Petrofac has said it will deliver an optimised scope to reduce Jasmine’s operating costs and to create operational efficiencies.
Manivannan Rajapathy, managing director of Petrofac Engineering & Production Services East, said: “We are delighted to be continuing our long-held relationship with Mubadala Petroleum and to be maintaining continuity of our O&M service delivery on the FPF-003. Through our existing relationship our teams have remained focused in supporting safe and effective production and earlier this year celebrated six years without a lost time incident.
“Our continued focus on safe delivery in line with driving differentiated and optimised approaches will characterise this next stage of our relationship as we work to support Mubadala Petroleum to maximise the value and oil recovery of the Jasmine field.”
The Jasmine field has produced more than 60 million barrels, several times the original estimates of recoverable reserves.