Oilfield Services Deals In India. Oilfield services provider Petrofac has been awarded two new contracts with Cairn Oil & Gas, Vedanta Limited, India's largest private oil and gas exploration company.
Petrofac said that the combined value of the deals was around $100 million. in step with the corporate, the wins include Petrofac's first significant operations and maintenance (O&M) contract in-country, evidencing its geographical growth strategy in action.
As for Cairn Oil & Gas Vedanta Limited may be a company created through a merger of Cairn India and Vedanta Limited. Selected by Cairn to produce integrated O&M services in support of its upstream oil and gas facilities, Petrofac will supply expertise at the Ravva oil and gas field within the Krishna Godavari Basin, in coastal state.
The duration of the contract is four years, with an choice to extend by 12 months. The scope of labor includes full O&M of the power, including offshore platforms, subsea pipelines, and also the onshore processing terminal.
Cairn has also selected Petrofac to undertake a lump-sum engineering, procurement, and construction (EPC) project to support the supply of well hook‐up and surface facilities for the Raageshwari Deep Gas (RDG) Field, in Barmer, Rajasthan.
Executed on a fast-track basis, the most scope of labor includes bringing online additional wells, augmentation, and modifications to handling and treatment facilities including electrical, instrument control, and safety and protection systems.
This follows a previous lump-sum EPC contract, valued at approximately $233 million, which Cairn awarded to Petrofac in April 2018 for its RDG Field Development Project. This was safely completed, with the plant's 72-hour performance guarantee test run in June 2021.
"The award of those contracts both deepens our footprint in India and supports the geographical growth of our Asset Solutions business, because it leverages over 25 years of operations and maintenance expertise in India for the primary time. we glance forward to supporting Cairn through the safe and high-quality execution of those latest scopes which, in line with our local delivery model, are supported by our world-class engineering centers in Chennai and Mumbai," Nick Shorten, COO for Petrofac's Asset Solutions business, stated.
"Petrofac has earned a world reputation for its engineering excellence in execution of projects for the upstream oil and gas sector. Cairn's association with Petrofac furthers our long-term vision of optimization of asset operations and achieving profitability. We are confident that this partnership will further strengthen our execution and operational excellence, enabling us to actualize our vision of adding 500,000 boepd and doubling domestic crude production capacities," Deputy CEO of Cairn Oil & Gas, Vedanta Ltd., added.
In recent company news, Petrofac was awarded a five-year contract extension for well management and well operator services with NEO Energy. Under the deal, Petrofac will provide a five-year framework for well management and well operator support for 27 wells across the Affleck, Balloch, Dumbarton, Lochranza, and Finlaggan fields located within the UK North Sea. Also, Petrofac hired the Stena Don semi-submersible rig which the contract would start within the fourth quarter of 2022 and last 80 days. The contract has been awarded in support of a one-firm well campaign on Tailwind Energy's Gannet E field within the UK North Sea. The contract with Petrofac includes an choice to extend for up to a few optional wells on behalf of other clients with an estimated total option scope duration of 55 days.
