Further consideration in cash and shares will be determined by the level of future profitability and in no event will exceed an aggregate total of GBP16 million.
Eclipse, founded in 1999, operates from five offices worldwide comprising Aberdeen, London, Stavanger, Houston and Dubai. Its life-of-field services include field development, production modeling and optimization, well life cycle risk management and petroleum engineering functional consulting.
Eclipse will form part of Petrofac Facilities Management and creates production engineering capabilities. The acquisition comes 18 months after Petrofac acquired a 51% interest in well operations management consultancy SPD, and the services provided by these two specialists will now enable Petrofac to take greater responsibility for production operations activities.
Gordon East, managing director of Petrofac Facilities Management, said: The acquisition of Eclipse represents an important development for Petrofac as we add new and complementary services to our portfolio and set out to maximize the strong synergies that exist within the two organizations. Eclipse brings a wealth of knowledge, capability and know-how to Petrofac in the area of production engineering, together with an extensive customer portfolio. Its teams are currently fully utilized on external business but we do have plans to very quickly engage them on some of our key projects.
