Petrofac Secures $350 Million Contract for Equatorial Guinea Offshore Operations

Engineering Specialist to Provide Technical Services for Block B Development

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Petrofac, a leading offshore engineering specialist, has secured a significant technical services contract from Equatorial Guinea’s esteemed national oil company, GEPetrol, aimed at bolstering operations within the offshore Block B region.

Valued at approximately $350 million over a span of five years, this contract entails Petrofac’s provision of a spectrum of technical services spanning across onshore support bases, a Floating Production Storage and Offloading (FPSO) unit, and an offshore platform.

The scope of this agreement encompasses a comprehensive array of operations, encompassing maintenance, asset integrity, integrity management, marine services, well engineering, project delivery, and supply chain services. This milestone follows Petrofac’s initial involvement in facilitating the transition of assets from Mobil Equatorial Guinea Inc.

Operating from the capital city of Malabo, Petrofac will oversee the management of this contract, complemented by support from its technical hub located in Aberdeen.

Nick Shorten, Chief Operating Officer of Petrofac’s asset solutions division, articulated, “This award is an exemplary demonstration of our strategic vision, which involves judicious expansion of our geographic presence while simultaneously delivering tangible value to our esteemed clientele through the optimization of late-life assets. Africa remains a focal point for our asset solutions business, and we are gratified to fortify our operational footprint in Equatorial Guinea, augmenting our existing endeavors in Ivory Coast, Ghana, Senegal, and Mauritania.”

In concurrence, Teresa Isabel Nnang Avomo, Director General of GEPetrol, emphasized, “Today’s contractual accord signifies a pivotal juncture in our trajectory toward assuming operational stewardship of Block B, slated to commence on June 1, 2024.”

Spanning an expanse of 2023 square kilometers, Block B encompasses the prolific Zafiro oil field, situated approximately 68 kilometers off the coast of Bioko island. Commencing operations in 1996 under the aegis of ExxonMobil, the Zafiro field witnessed the installation of the Jade fixed platform shortly thereafter, with subsequent expansion facilitated by the deployment of the FPSO Serpentina in 2003. However, production at the field ceased in 2022, precipitated by ingress of water into the Floating Production Unit (FPU) stationed at the field.

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