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SPD wins its first major Asia Pacific contract.

Summary: SPD, the well operations arm of Petrofac, the international oil & gas facilities service provider, has been awarded a US$2 million 24-month contract from Sasol for drilling and testing two exploration gas wells onshore in Papua New Guinea - recognised as being one of the last onshore frontiers in the oil & gas industry. Papua New Guinea is characterised by mountainous terrain, dense jungle and is one of the most logistically challenging environments in the world. Operating in such hostile conditions further demonstrates SPD's advanced technical expertise.

SPD, the well operations arm of Petrofac, the international oil & gas facilities service provider, has been awarded a US$2 million 24-month contract from Sasol for drilling and testing two exploration gas wells onshore in Papua New Guinea - recognised as being one of the last onshore frontiers in the oil & gas industry. Papua New Guinea is characterised by mountainous terrain, dense jungle and is one of the most logistically challenging environments in the world. Operating in such hostile conditions further demonstrates SPD's advanced technical expertise.

Commenting on winning the Sasol contract, Colin Finnegan, Asia Pacific director of SPD, said: "SPD is extremely proud to have won its first full project management contract in the Asia Pacific region. We believe that this particular project is an early justification for our decision to expand into Australasia. We are pleased to continue our strong relationship with Sasol and look forward to an exciting and challenging project."

In addition, the company has signed a contract with Wintershall (E&P) Limited for a single well programme in the Central North Sea, worth approximately US$1 million. SPD will provide the well engineering and operations management services to Wintershall under its innovative Well Construction business model. The well is likely to commence operations in the first half of 2010.

Commenting on winning the Wintershall contract, Clive Smith, UK director of SPD, said: "This is another major step for SPD in the North Sea well construction market. We have successfully promoted our 'Well on the Shelfao' concept and agency style contracting arrangement and we look forward to delivering a successful well project on behalf of Wintershall."Finally, SPD can confirm it has successfully delivered a US$1 million project to Anadarko Petroleum Corporation in Qatar; having drilled and completed two exploration gas wells offshore the peninsula state.

Commenting on the outstanding achievement for SPD in Qatar, Alistair Davidson, Managing Director of SPD, said: "This is our first full project management contract in Qatar, a very competitive market, and delivering ahead of time and with a lower budget is testament to SPD's outstanding expertise and technological advancement."

All these projects involve rig tendering, contracting, and health, safety and environment planning, in addition to the supervision of well site construction. SPD won these contracts based on the company's strong working relationship with its customers and its successful track record, which is further proven by its early and below-budget delivery of the Anadarko project.

These contracts come in as the latest developments in a series of projects and ongoing well engineering and support management contracts won by SPD internationally since its establishment in Dubai in September 2002. 2009 Al Bawaba (www.albawaba.com)

2009 Al Bawaba (Albawaba.com)

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Publication:Albawaba.com
Date:Sep 13, 2009
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