Neptune Energy has renewed Petrofac’s contract for its operations in the UK’s Cygnus gas field, locates in the Southern North Sea, for three years a head, according to Petrofac’s statement.
The contract’s renewal was valued at $14 million and will come into effect as of January 1, 2022.
The contract includes the provision of operations and maintenance services for the Cygnus Alpha platform in the Southern North Sea.
The contract also has the option to extend its term, Petrofac added.
Petrofac began working on the pre-operational phase of Cygnus – the largest gas field discovery in the Southern North Sea for 30 years
The Cygnus gas field is the largest gas field discovery in the Southern North Sea for 30 years and has the capacity to produce about 6% of UK’s domestic gas demand.
“Petrofac has been an integral part of the team at Cygnus over the past decade.
The contract extension ensures we retain skilled personnel with in-depth knowledge of the asset and underlines our commitment to strengthening our relationships with service partners,” Neptune Energy’s UK Managing Director, Alexandra Thomas, commented on the occasion.