GR Engineering Services secures FPSO contract
GR Engineering Services has announced that its wholly owned oil and gas services business, Upstream Production Solutions, has entered into an operations and maintenance services agreement with Northern Oil and Gas Australia (NOGA) to operate and maintain the Northern Endeavour floating production storage and offloading facility (FPSO) and associated infrastructure.
Since 1999, the FPSO has been the production vessel associated with the Laminaria-Corallina oil field, which remains in steady state of production and has recently been acquired by NOGA.
Under the contract, which has an initial three year term, Upstream PS will provide offshore and onshore operations and maintenance services to NOGA.
Commencement of the contract remains subject to certain conditions. Revenue under the contract is expected to be approximately $30m per year.
“We are delighted to be supporting NOGA with its foundation asset. This represents a significant milestone for Upstream PS and a great opportunity to continue expanding our strong offshore capability. This contract also complements our existing portfolio of operations and maintenance, engineering and production assurance services engagements across Australia. We look forward to working for NOGA, and its highly credentialed team”, said Joe Corvetti, managing director of Upstream Production Solutions.