Petrofac wins three-year contract extension with Repsol Sinopec

4th Oct 2023 09:09

(Sharecast News) - Energy services company Petrofac has scored a three-year contract extension with Repsol Sinopec Resources UK valued at more than $100m.

Petrofac said on Wednesday that the deal, which will see it support Repsol's North Sea operations, incorporates more than 300 jobs across 10 offshore sites and the Flotta Oil Terminal and Nigg Oil Terminal.

Nick Shorten, chief operating officer of Petrofac's Asset Solutions division, said: "Our relationship with Repsol Sinopec has continued to grow, adapting to new requirements and the operating environment.

"This contract extension demonstrates our team's commitment and drive to support Repsol Sinopec through safe and effective operations."

As of 0905 BST, Petrofac shares were down 1.34% at 70.05p.

Reporting by Iain Gilbert at Sharecast.com