Petrofac (LON: PFC) has been awarded a three-year contract extension with Repsol Sinopec Resources UK worth more than $100m.
The deal, supporting UK North Sea operations, supports more than 300 jobs across 10 offshore assets, as well as a pair of onshore oil terminals.
Petrofac was initially appointed by Repsol Sinopec in 2016, with the scope of work growing significantly in 2020 when six additional assets were added on.
Nick Shorten, chief operating officer for Petrofac’s Asset Solutions business, said: “Our relationship with Repsol Sinopec has continued to grow, adapting to new requirements and the operating environment.
“This contract extension demonstrates our team’s commitment and drive to support Repsol Sinopec through safe and effective operations.
“We look forward to our continued partnership and collaboration across their North Sea assets.”
The contract covers the Arbroath, Auk, Bleo Holm, Claymore, Clyde, Fulmar, Montrose, Piper, Saltire and Tartan assets in the North Sea. Petrofac also provides support to Flotta Oil Terminal and Nigg Oil Terminal.
The deal follows several other contract extensions in the North Sea for Petrofac.
Last year the London-listed firm announced extensions with EnQuest, Serica Energy and Spirit Energy.
The UK remains the largest market for Petrofac, responsible for 26% of group revenue in 0222.
Asset Solutions has around 40% of the North Sea market share.
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