Petrofac has extended a contract for operations and maintenance (O&M) on the Jasmine field, offshore Thailand.
The company has been working on the FPSO since 2011. The contract now runs until the end of 2028.
Operator Valeura Energy said it had extended its charter of the FPSO in addition to the O&M contract.
Valeura CEO and president Sean Guest said the deals “further illustrate the potential to continue deriving value from the Jasmine oil field”. Jasmine has produced 90 million barrels, as of May this year, “greatly exceeding the expectations set at its original development sanction in 2004 of approximately 7 million barrels”.
Valeura is carrying out refurbishment work on the FPSO, worth $9mn. This is intended to ensure ongoing reliability and extend its class certification.
Guest noted that maintenance was a “key aspect to ensuring the ongoing safe delivery of value. These contract extensions pave the way for Valeura to pursue further field extensions and infill drilling in the years to come as we continually seek to extend the economic life of the asset.”
Petrofac originally won work on the FPF-003 FPSO from Mubadala Energy.
Nick Shorten, chief operating officer of Petrofac’s Asset Solutions, welcomed the contract extension.
“Throughout our time as Service Operator, our teams have helped maximise the value and oil recovery from the Jasmine field and celebrated 12 years without a lost time incident and over 500 liftings of oil to export tankers without an environmental incident,” he said.
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