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IN BRIEF: Petrofac wins USD200 million contract with Sonatrach

Fri, 05th Aug 2022 06:45

Petrofac Ltd - Jersey-based services provider to energy industry - Consortium that Petrofac leads wins engineering, procurement and construction contract in Algeria. Consortium includes Genie Civil et Batiment. Award is on a provisional basis. Contract is with Algerian state-owned oil company Sonatrach Petroleum Corp BVI for the Tinrhert EPC2 development project in Algeria. The project will see the creation of a new central processing facility for natural gas production.

The contract is valued at USD300 million, with Petrofac's share being roughly USD200 million

Current stock price: 112.90 pence

12-month change: up 18%

By Abby Amoakuh; abbyamoakuh@alliancenews.com

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