Petrofac expects acceleration of energy transition and a wider sector recovery

Petrofac expects acceleration of energy transition and a wider sector recovery

Muscat: Despite wider challenges associated with the pandemic, key milestones continue to be achieved by Petrofac Oman's project teams; this is in addition to ongoing efforts to keep people safe and ensure that operations progress to schedule. "We expect late 2021 to mark the start of a wider recovery period for the energy sector globally, with a return to pre 2020 Capex (capital expenditures) spend levels by 2023," Ian Debattista, Country Manager, Petrofac Oman, told Times of Oman in an exclusive interview. "We will seek to capitalise on this recovery in our core accessible markets such as Oman, whilst also targeting growth in selective new geographies and accelerating our transition to new energies. In parallel, we will deliver on our environment, social, and governance (ESG) commitments and continue to improve our cost-competitiveness," he added. Petrofac has been supporting the Sultanate's energy sector since 1988 to design, build, operate and maintain oil and gas facilities, as well as developing local workforce competence and generating in-country value (ICV). During the past 33 years, Petrofac has established a multi-discipline engineering and project execution office in Muscat and invested in a state-of-the-art technical training centre Takatuf Petrofac Oman (TPO). "We have developed a highly