Marathon Oil extends Brae engineering, maintenance contract with Petrofac in the UK North Sea

Source: Petrofac

Petrofac has been awarded a contract renewal by Marathon Oil (NYSE:MRO) on its Brae assets in the UK North Sea. Having worked on Brae since 2005, Petrofac’s contract has been extended by a further four years. 

Starting in August 2011, Petrofac will deploy its engineering, construction, operations and maintenance services under the terms of the new contract. The base scope is valued at £36 million (US $57 million), although this does not include the value of any future projects which may get sanctioned. 

Operating as a production hub for nearby oil and gas fields, the Brae development is located in the UK Central North Sea.

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