(Alliance News) - Petrofac Ltd on Thursday said it has secured two petroleum development contracts in Oman through Petroleum Development Oman, which together are worth around USD300 million.
Petroleum Development Oman is an oil & gas exploration & production company in Oman.
The oilfield services company based in Jersey said the first is a direct engineering, procurement, and construction contract for the Petroleum Development Oman's Marmul main production station gas compression project, located in the south of Oman.
The scope of work for the 30-month, lump-sum contract includes engineering, procurement, construction, commissioning, start-up and initial operational support, the company said.
The second is a project delivery contract with Petrofac's partner Arabian Industries Projects LLC, for selected concession areas in the north of Oman. The scope of this seven-year contract is for provision of reimbursable engineering services, integrated project support and management services, and has an option to extend for three years, the company said.
Petrofac Chief Operating Officer Elie Lahoud said: "Petrofac has a significant track record in Oman and Petroleum Development Oman are a longstanding client. We look forward to building on our strong relationship through these latest contract awards. Both will be delivered by our teams in the Sultanate, with the focus on safety, maximising local and sustainable delivery, and generating in-country value."
Petrofac shares were up 0.4% at 116.30 pence each in London on Thursday morning.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Petrofac (PFC)