Petrofac and Saipem, two leading industry players, have recently won a significant contract to facilitate the decommissioning of a substantial platform in the UK sector of the North Sea. This strategic collaboration marks a pivotal step in addressing the region's evolving energy landscape.

According to a recent news release, the contract entails a comprehensive approach, with the integrated efforts of Petrofac and Saipem, to meticulously prepare and eliminate the 20,000-metric-ton topside. The utilization of the Saipem 7000, renowned as one of the world's largest semi-submersible heavy lifting vessels, underscores the project's scale and complexity. Although the specific financial details were not disclosed, Petrofac emphasized that the deal is a multimillion-pound agreement, affirming its significance within the industry.

The project, set to unfold over three years in two distinct phases, will involve Petrofac managing the initial preparations on the platform itself, followed by the execution phase aboard the Saipem 7000 for the actual removal campaign. Petrofac's responsibilities encompass an array of crucial tasks, including module separation, lift point inspection, lift point installation, as well as riser and caisson severing.

Nick Shorten, COO of Petrofac Asset Solutions, emphasized the role of decommissioning in the industry's pursuit of cleaner energy sources. He expressed his enthusiasm for collaborating with Saipem and their customer, leveraging Petrofac's extensive expertise in North Sea operations and its two decades of experience in decommissioning. Shorten anticipates delivering a secure and predictable program that could potentially serve as a model for the North Sea's ongoing transition.

In another recent development, Petrofac received a substantial three-year contract extension to support Repsol Sinopec Resources UK's operations in the North Sea, valued at over $100 million. This extension builds upon Petrofac's initial appointment by Repsol Sinopec in 2016, demonstrating the company's sustained commitment to providing top-notch operations and maintenance services. Shorten underscored the continuous growth of their relationship with Repsol Sinopec, adapting to evolving demands and the shifting operational landscape. The extension, he added, reflects Petrofac's unwavering dedication to fostering secure and efficient operations, fostering a culture of collaboration across the various assets in the North Sea, including the Arbroath, Auk, Bleo Holm, Claymore, Clyde, Fulmar, Montrose, Piper, Saltire, and Tartan assets, alongside the Flotta Oil Terminal and Nigg Oil Terminal.

Moreover, earlier this month, Petrofac Emirates LLC, a subsidiary of Petrofac, secured a substantial engineering, procurement, and construction (EPC) contract worth $615 million (AED 2.26 billion) from ADNOC Gas plc. The contract is part of the construction of carbon capture units, pipeline infrastructure, and a network of wells for carbon dioxide injection at the Habshan gas processing plant, aligned with ADNOC's accelerated decarbonization plan. The Habshan Carbon Capture, Utilization, and Storage (CCUS) project, touted as one of the largest carbon capture projects in the Middle East and North Africa region, aims to capture and store 1.5 million tons per annum of carbon dioxide deep underground within geological structures. The project is set to be commissioned in 2026, with ADNOC Gas assuming responsibility for its construction, operation, and maintenance.

The recent series of contracts and collaborations underscores Petrofac's pivotal role in fostering sustainable and efficient energy operations, firmly establishing its position as a key player within the evolving global energy landscape.