Petrofac wins North Sea bids

Kasmira Jefford
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BRITISH oil services firm Petrofac has been awarded two North Sea contracts by the UK arm of GDF Suez, the French-listed utility company, worth £30m over three years.

The FTSE 100-listed company, led by chief executive Ayman Asfari (pictured), said it will provide operations, maintenance and engineering to GDF Suez E&P UK and will supply all offshore personnel, creating around 100 new jobs in the North Sea over the next five years.

Jean-Claude Perdigues, managing director at GDF Suez E&P UK, said: “These two new contracts represent a significant milestone for GDF... and will help the company to conduct its North Sea operations safely, efficiently and cost effectively.”

Last week Petrofac posted better-than-expected first-half profits of $246.3m and said it was confident demand from national oil firms would continue to fuel future growth.

New contract wins in Algeria, Iraq and Malaysia boosted its order book by $2.2bn to $11.4bn, while a recent breakthrough in the tough Mexican market also helped improve prospects.

Petrofac soared 5.8 per cent yesterday to close at £12.98.