Mubadala extends Petrofac’s contract for FPSO offshore Thailand
Mubadala Petroleum has awarded Petrofac new and modified contracts concerning the FPSO FPF-003, serving the Jasmine/Ban Yen field in the Gulf of Thailand.
The two parties have signed a new “life of field” agreement for the provision of operations and maintenance services which could run until 2023.
Petrofac will deliver an optimized scope designed to reduce Jasmine’s operating costs and to achieve operational efficiencies to sustain the mature field development.
In addition, Mubadala and PetroFirst Infrastructure have signed an extension to the associated charter lease for the vessel’s bareboat charter.
Mubadala CEO Musabbeh Al Kaabi said: “Jasmine has been a remarkable success story, having produced over 60 MMbbl, several times more than original estimates of recoverable reserves.
“We believe there is more to come but it is a complex set of reservoirs and a mature asset, so a competitive and flexible approach to operations is vital.”