Penspen Reels In $70M Worth of Middle East and Africa Contracts

Energy services firm Penspen said Wednesday it had recently secured more than $70 million worth of contracts in Middle East and Africa so far this year.

The company’s Project Management Consultancy (PMC) service line has secured more than $50 million from five new, long-term contracts from ADNOC, ADNOC Onshore, ADNOC Offshore and ADOC during 2021. The Engineering Project Consultancy (EPC) projects being executed under Penspen’s PMC supervision will support the achievement of ADNOC’s 2030 integrated strategy goals, the company said.

Also, Penpen’s Asset Integrity (AI) service line has secured more than $10 million from four new, long-term contracts from BP ROO, ADNOC Offshore, ADNOC Gas Processing and Dubai Petroleum. The contracts cover a range of Asset Integrity Services including Pipeline Integrity Management, Corrosion Consultancy, Risk-Based Inspection Assessment and Cathodic Protection Assessment.

Furthermore, Penspen said Wednesday that its Engineering Service Line had 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 PVT Ltd. 

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.

Neale Carter, Executive Vice President for the Middle East, Africa, and Asia Pacific Regions at Penspen said: "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. These long and medium-term contracts establish a solid platform for further growth throughout this year and beyond.”

According to Carter, Penspen has doubled its regional workforce count in the past four years to over 560 members of staff, and expects to see its headcount grow to over 600 members of staff by the end of 2021, to support new contract awards.

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