Equatorial Guinea: Petrofac signs a $350 million agreement for work offshore the country.

Petrofac, a leading oilfield services provider, has been selected to provide technical services to GEPetrol, the national oil company of Equatorial Guinea, to support operations in Block B. The contract, worth nearly $350 million over five years, will include technical management of onshore facilities, a Floating Production, Storage and Offloading (FPSO) and a platform.

This partnership will leverage Petrofac's expertise in operations, maintenance, asset integrity, integrity management, marine services, well engineering, project management and supply chain services. This collaboration follows an initial project where Petrofac assisted Mobil Equatorial Guinea (MEGI) in the transition of its assets. The contract will be managed from Malabo, with additional support from Petrofac's technical center in Aberdeen, UK.

Nick Shorten, Chief Operating Officer of Asset Solutions at Petrofac, commented: "This contract is a perfect illustration of our strategy to selectively expand our geographical presence and generate value for our customers by optimizing the management of end-of-life assets. Africa remains a key region for our Asset Solutions division, and we look forward to strengthening our presence not only in Equatorial Guinea, but also in Côte d'Ivoire, Ghana, Senegal and Mauritania."

Teresa Isabel Nnang Avomo, Managing Director of GEPetrol, expressed her enthusiasm for this strengthened collaboration: "The signing of this contract is a crucial step towards our goal of becoming the operator of Block B from June 1, 2024. Through the partnership with Petrofac, we plan to unlock the considerable potential of our national workforce and develop a sustainable structure for the management and exploitation of the country's oil and gas resources."