Petrofac acquires floating production facility AH001

Petrofac has acquired the floating production facility AH001 from Hess and Endeavour Energy UK.

Offshore staff

LONDON -- Petrofac has acquired the floating production facility AH001 from Hess and Endeavour Energy UK. The vessel has a processing capacity of 70,000 b/d of oil and 42.5 MMcf/d of gas, with water injection capability of 72,000 b/d and treatment of 75,000 b/d. The vessel is expected to arrive shortly at the McNulty offshore facility in Newcastle-upon-Tyne, UK.

“We are delighted to have acquired this production facility and to have completed our first energy infrastructure investment,” says Amjad Bseisu, chief executive, Petrofac Energy Developments. “This transaction and our ability to manage the required upgrade to the vessel and any modifications to position it for redeployment means we are uniquely positioned to deliver innovative and compelling development solutions for undeveloped opportunities and generate additional value alongside potential co-venture partners.”

07/17/2009

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