Petrofac has secured a $120 million agreement with Malaysia’s Petronas to operate and manage two training facilities that they are currently building to support Petronas’ workforce capability enhancement program, the company announced Monday.
Petrofac is currently constructing two upstream plant training facilities, and a downstream plant training facility. These facilities will support existing programs at the Institut Teknologi Petroleum Petronas training academy in Terengganu, Malaysia.
Under the agreement, Petrofac will be responsible for the ongoing management and operation of the two upstream facilities, which are capable of training 500 personnel a year, for the next five years. The have also agreed on an option to extend for two additional years.
Andy Inglis, chief executive of Petrofac Integrated Energy Services, commented: “We are delighted that we are continuing to build on the existing relationship with our long-term customer Petronas to support its goal of enhancing Malaysian workforce capability in the oil and gas sector. Training is a core part of the IES offer and the award of our biggest training contract to date demonstrates our growing scale in an area which international and national oil companies have high on their agendas. The creation of this regional center of excellence will enable Petronas to ensure the development of a highly-skilled resource pool to meet its own and industry needs now and in the decades ahead.”
London-based Petrofac is part of the FTSE 100 Index.
It has 31 offices and more than 18,000 staff worldwide.