By Joe Hope
Petrofac Ltd. said Wednesday that it has been selected by Tullow Oil PLC to provide well decommissioning services in Mauritania in a contract with a potential total value of more than $60 million.
The London-listed provider of services to the energy industry said the contract will involve the project management, engineering, planning, and plugging and abandonment of seven subsea wells on Tullow Oil’s Banda and Tiof fields.
Petrofac said it will take over responsibility for the well decommissioning from Maersk Decom, who have been preparing the work since 2020. The offshore work will take place from the fourth quarter of this year to the first quarter of 2023.
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Petrofac will provide all personnel, assets and equipment needed for the project, it said.
“Since 2016 Petrofac has delivered three successful decommissioning campaigns for Tullow Oil. We look forward to emulating this success for them in Mauritania, and across the African continent as we continue to grow our business here,” Nick Shorten, chief operating officer for Petrofac’s asset solutions business, said.
Shares in Petrofac at 0836 GMT were down 0.6 pence, or 0.4%, at 153.3 pence.
Write to Joe Hoppe at [email protected]
Credit: www.marketwatch.com /