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14 March 2016: Petrofac evolves its Duty Holder model in support of new North Sea investment

14 March 2016

Petrofac has been appointed as Duty Holder to support Anasuria Operating Company Limited (AOC), a UK joint venture formed between Hibiscus Petroleum Berhad (Hibiscus) and Ping Petroleum Limited (Ping). The arrangement is effective in line with Ping and Hibiscus taking over as owner and AOC as license operator of the Anasuria cluster.

The initial five-year contract, which has additional options to extend, is worth in the region of $250 million and secures 65 jobs, with most of the offshore personnel currently supporting the asset transferring to Petrofac.

The assets acquired by Ping and Hibiscus, named the Anasuria cluster, are located 175km east of Aberdeen and consist of a 100% interest in the Anasuria FPSO, Teal, Teal South, Guillemot A fields and a 38.65% interest in the Cook field. AOC was incorporated by Ping and Hibiscus to act as license operator.

Under this scope Petrofac will assume full responsibility on behalf of AOC for the FPSO operations as well as for monitoring and managing the pipelines and wells with the exception of the Cook well. Within this contract the responsibilities for Installation Operator (including Duty Holder), Pipeline Operator and Well Operator are being combined for the first time within Petrofac’s Service Operator model. This approach evolves the outsourced Duty Holder service which Petrofac pioneered in 1997 and will provide an integrated, aligned approach to the operation and development of the cluster.