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Petrofac places significant emphasis on Africa as a central area of focus within its operations.

 Petrofac, an oil and gas service provider listed on the London Stock Exchange (LON:PFC), has clinched a substantial $350 million deal with Equatorial Guinea's national oil company. The five-year agreement with Compañía Nacional de Petróleos de Guinea Ecuatorial (GEPetrol) focuses on supporting operations in the region's Block B asset. Petrofac will provide technical services across onshore support bases, an FPSO, and a platform on behalf of GEPetrol, building on its previous involvement in transitioning the asset from ExxonMobil's local subsidiary, Mobil Equatorial Guinea Inc (MEGI).

Under the new deal, Petrofac ensures continuity by retaining local staff and contractors, managing the contract from its base in Malabo, Equatorial Guinea, with support from its Aberdeen technical hub. Nick Shorten, Petrofac's Chief Operating Officer for Asset Solutions, emphasizes Africa's strategic importance for the company, highlighting existing operations in Ivory Coast, Ghana, Senegal, and Mauritania, alongside this new opportunity in Equatorial Guinea. Antonio Oburu Ondo, Equatorial Guinea's Minister of Mines and Hydrocarbons, expresses pride in the nation's progress towards managing its oil and gas assets independently, foreseeing economic growth through partnerships and investments in local capabilities. Teresa Isabel Nnang Avomo, Director General of GEPetrol, views the partnership with Petrofac as a significant step towards realizing their vision of efficiently managing Block B, leveraging both indigenous expertise and Petrofac's global experience for long-term development.
Source : www.petrofacog.com
Posted On: 4/30/2024 12:00:00 AM

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