Petrofac Regulatory News (PFC)

2 Jul 2009 07:00



PETROFAC LIMITED

Petrofac awarded gas compression project worth more than US$350 million

Petrofac, the international oil & gas facilities service provider, has been awarded a contract worth more than US$350 million for the Kauther gas-field depletion-compression project. The contract was awarded on behalf of the Government of Oman by Petroleum Development Oman (PDO), which has been developing the Sultanate's gas fields on behalf of the Government since 1978.

Petrofac will undertake the engineering, procurement and construction (EPC) of the gas compression system, and associated facilities at the Kauther gas plant, in addition to undertaking the commissioning and six months of initial operations. 

The project follows the successful completion of the Kauther gas plant in 2007, which Petrofac built on an EPC basis for PDO, including commissioning and operations.  In early 2008, Petrofac was asked to carry out the front end engineering and design (FEED) for the gas depletion-compression project and then invited to submit a commercial proposal for the EPC on a negotiated basis. 

Maroun Semaan, group chief operating officer of Petrofac, commented: "We are delighted to have successfully secured the Kauther gas depletion compression project. This award serves to further reinforce Petrofac's commitment to the Omani market, gives us continuity of business in the Sultanate and again highlights Petrofac's continued competitiveness in the Middle East."

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Petrofac

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 (symbol: PFC) 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.