Apache extends North Sea contract with Petrofac
Oil and gas services group Petrofac has been awarded an engineering and construction contract by Apache North Sea.
Oil and gas services group Petrofac has been awarded an engineering and construction contract by Apache North Sea.
The three-year contract, for the provision of onshore engineering and both onshore and offshore construction services, has two optional one-year extensions and is worth £100m per annum.
The contract relates to the Beryl Alpha and Bravo platforms in the northern North Sea and the Scottish Area Gas Evacuation (SAGE) gas processing plant at St Fergus, Aberdeenshire.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The contract represents an extension to, and continuation of, the current service contract which Petrofac holds for Apache's Forties platforms.
"We have worked closely with Apache to deliver a number of highly successful projects on the Forties field since we began work in 2009. As Petrofac develops its offshore capability we are delighted that Apache has extended our responsibilities to include engineering and construction work on the Beryl field and at the SAGE gas plant," said Bill Dunnett, the Managing Director for Petrofac Offshore Projects & Operations.
Shares were down 1.54% at 1,475p before the close on Friday.
BC
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: Eden Roc Cap Cana – fun, sun and golf in the Caribbean
Travel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yet
The chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry