Petrofac Regulatory News (PFC)

15 Jan 2007 07:01

Petrofac Limited15 January 2007 PETROFAC LIMITED PETROFAC SECURES ADDITIONAL KARACHAGANAK AWARD Petrofac, the international oil & gas facilities service provider, has securedthe contract for the detailed engineering, procurement, construction managementand commissioning support for the Karachaganak 4th stabilisation and sweeteningtrain. This award follows Petrofac's successful completion of the FEED study forthe development. The contract, which is scheduled for completion in mid 2009,will be executed on a part lump sum and part reimbursable basis. The addition of a fourth oil processing train will increase significantly thecapacity of the existing Karachaganak Processing Complex (KPC) facilities.Petrofac will be working alongside Karachaganak Petroleum Operating BV (KPO) andits partners and with NIPI Caspian Engineering and Research (CER), based inKazakhstan. Petrofac and CER will use a jointly developed engineering capabilityto increase long term Kazakh development and Kazakh content. Commenting on the award, Maroun Semaan, Chief Executive, Petrofac Engineering &Construction, said, "Kazakhstan and the Caspian region are of strategicimportance to Petrofac. With the successful completion of the FEED study, thisaward reinforces further our position in and commitment to the substantialcapital investment programmes that are underway and being planned in theregion." Ends For further information, contact: Petrofac Limited +44 (0) 20 7811 4900Ayman Asfari, Group Chief ExecutiveKeith Roberts, Chief Financial OfficerRobin Caiger, Head of Investor Relations Bell Pottinger Corporate & Financial +44 (0) 20 7861 3232Ann-marie WilkinsonGeoff Callow Notes to Editors Petrofac Petrofac is a leading international provider of facilities solutions to the oiland gas production and processing industry, with a diverse client portfolioincluding many of the world's leading integrated, independent and national oiland gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC)and is a constituent of the FTSE 250 Index. Through its three divisions, Engineering & Construction, Operations Services andResources, Petrofac designs and builds oil and gas facilities; operates,maintains or manages facilities and trains personnel; and, where return criteriaare met and service revenue synergies identified, co-invests with clients andpartners. Petrofac's range of services allows it to help meet its clients' needsacross the life cycle of oil and gas assets. With approximately 8,000 employees, Petrofac operates out of four strategicallylocated international centres, in Aberdeen, Sharjah, Woking and Mumbai and afurther 13 offices worldwide. The predominant focus of Petrofac's business ison the UK Continental Shelf (UKCS), Africa, the Middle East, the Commonwealth ofIndependent States (CIS) and the Asia Pacific region. For additional information, please refer to the Petrofac website atwww.petrofac.com. This information is provided by RNS The company news service from the London Stock Exchange