Penspen wins over $70mln new MEA energy project contracts

Penpen’s project management consultancy unit secured long-term contracts worth $50mln from ADNOC and its Onshore, Offshore units

  
Offshore drilling oil rig for producing oil and gas in the petroleum industry. Image used for illustrative purpose.

Offshore drilling oil rig for producing oil and gas in the petroleum industry. Image used for illustrative purpose.

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Penspen, a leading global energy services company, has recorded a highly successful year to date in the Middle East and Africa with a strong performance forecast for the rest of the year.
 
The company’s project management consultancy unit has secured more than five new, long-term contracts worth $50 million from Abu Dhabi National Oil Company and its Onshore, Offshore units.
 
Penpen’s Asset Integrity (AI) service line has netted over $10 million from four new, long-term contracts from BP ROO, ADNOC Offshore, ADNOC Gas Processing and Dubai Petroleum.
 
These contracts cover a range of asset integrity services including Pipeline Integrity Management, Corrosion Consultancy, Risk Based Inspection Assessment and Cathodic Protection Assessment.
 
The Engineering Project Consultancy (EPC) projects being executed under Penspen’s PMC supervision will support the achievement of ADNOC’s 2030 integrated strategy goal, said a top official.
 
"We are delighted with our performance in the Middle East and Africa so far this year, particularly in light of such challenging global market conditions caused by the pandemic," said Neale Carter, the Executive Vice President for the Middle East, Africa and Asia Pacific Regions at Penspen.
 
"These long and medium-term contracts establish a solid platform for further growth throughout this year and beyond," he noted.
 
In addition, Penspen’s Engineering Service Line has brought in more than $10 million from 17 new medium-term contracts from Robt Stone, Galfar Emirates, Target Engineering Construction Company, Archirodon, Arabian Industries, Probus Engineering Construction and Petrozim Line.
 
According to him, the contracts cover a range of support services such as Study, Feed and Detailed Design for the development of energy assets in the Middle East and Africa.
 
"We appreciate the confidence placed in us by our highly valued clients. Their trust in us to deliver our leading Project Management Consultancy, Asset Integrity and Engineering Consultancy Services is the driver behind our continuing regional expansion," he noted.
 
"We have doubled our regional workforce in the past four years to over 560 members of staff, and to support our new contract awards we expect to see our numbers grow to over 600 members of staff by the end of 2021," he added.-TradeArabia News Service

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