Petrofac Regulatory News (PFC)

30 Dec 2009 07:15

Press Release30 December 2009 PETROFAC LIMITED

PETROFAC APPOINTED BY TURKMENGAS ON SOUTH YOLOTEN GAS FIELD DEVELOPMENT

Petrofac, the international oil & gas facilities service provider, has been engaged by Turkmengas, the state-owned national gas company of Turkmenistan, to provide services in relation to the development of the South Yoloten gas field (the "Project"), situated approximately 400 km south east of the capital Ashgabat.

The first phase of the contract, which was signed with Petrofac International (UAE) LLC, valued at approximately US$100 million, will involve Petrofac completing a front end engineering and design study for the Project together with initial planning and set-up studies. After satisfactory conclusion of the first phase, the contract contemplates moving into a second phase which will include the engineering, procurement and commissioning work for a 10 billion cubic metres per annum (bcma) gas processing facility along with the infrastructure and pipelines for the entire 20 bcma development.

Petrofac's extensive experience of designing and constructing facilities to handle and process sour gas was a factor in Petrofac's selection for the project as the feed gas from the field contains around 6% H2S. The eventual scope for the South Yoloten development is likely to include: well pad facilities; gathering systems; gas processing and sweetening; sulphur handling, storage and export and condensate processing, storage and export facilities.

Maroun Semaan, group chief operating officer said: "This is Petrofac's first project award in Turkmenistan although we have been building our relations with Turkmengas for some time. The development of the South Yoloten field is a critical part of Turkmenistan's plans to exploit their very significant hydrocarbon resources and we are honoured to have been given the opportunity to work on this important project at such a strategic stage of its evolution."

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For further information contact:

Tulchan Communications Group Ltd +44 (0) 20 7353 4200James BradleyDavid Allchurchpetrofac@tulchangroup.comNotes to EditorsPetrofac

Petrofac is a leading international provider of facilities solutions to the oil & gas production and processing industry, with a diverse customer portfolio including many of the world's leading integrated, independent and national oil & gas companies. Petrofac is quoted on the London Stock Exchange and is a constituent of the FTSE 100 Index.

The group delivers services through seven business units: Engineering & Construction, Engineering & Construction Ventures, Engineering Services, Offshore Engineering & Operations, Training, Production Solutions and Energy Developments.

Through these businesses Petrofac designs and builds oil & gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac's range of services meets its customers' needs across the full life cycle of oil & gas assets.

With more than 11,000 employees, Petrofac operates out of five strategically located operational centres, in Aberdeen, Sharjah, Woking, Chennai and Mumbai and a further 19 offices worldwide. The predominant focus of Petrofac's business is on the UK Continental Shelf (UKCS), the Middle East and Africa, the Commonwealth of Independent States (CIS) and the Asia Pacific region.

For additional information, please refer to the Petrofac website at www.petrofac.com.