BP has awarded the offshore contractor a three-year extension to its existing maintenance contract and a new four-year metering contract.
Under the metering services contract, Petrofac will provide onshore and offshore consulting and support services.
It will continue to harness digital technology to drive improvements and increase production efficiencies for BP, as part of the agreement.
Meanwhile, under the maintenance agreement, Petrofac will continue to provide campaign inspection as well as maintenance services on BP’s North Sea assets. A Petrofac statement said it has supported many of these assets for the last decade.
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Last year, Petrofac worked with BP to prove new execution techniques.
Petrofac West Engineering and Production Services managing director Nick Shorten said: “We are proud to build on our long-standing relationship with BP, who have been an early adopter of our digital execution processes.
“We look forward to building on the gains made through this approach and establishing our metering services provision.”
Last month, Petrofac told staff in the UAE of its decision to reduce its headcount in the country by 20%. Furthermore, the company plans to reduce its overhead and project support costs by at least $100m in the current year and by up to $200m next year.
In December last year, BP awarded a service contract for operations in the Caspian Sea to a joint venture of Petrofac and Socar.