Petrofac Secures $350 Million Contract with Equatorial Guinea's National Oil Company

Petrofac, a global energy services provider, has been awarded a technical services contract by Compañía Nacional de Petróleos de Guinea Ecuatorial (GEPetrol). The contract, worth about $350 million, will last five years and cover the operation of Block B's assets in Equatorial Guinea.

The services provided by Petrofac will include operations, maintenance, and various other asset integrity services at onshore bases, an FPSO, and a platform. This contract continuation comes after Petrofac helped transition the asset from its previous operator, Mobil Equatorial Guinea Inc. (MEGI).

The contract will be managed from Malabo, with additional support from Petrofac's technical hub in Aberdeen, UK. Nick Shorten, COO of Petrofac’s Asset Solutions, indicated that this project would help extend the life of the field and support energy independence and sustainable growth in Equatorial Guinea.

Antonio Oburu Ondo, Equatorial Guinea’s Minister of Mines and Hydrocarbons, and Teresa Isabel Nnang Avomo, Director General of GEPetrol, affirmed their commitment to using this partnership to enhance local workforce capabilities and manage the nation's oil and gas assets effectively.