Petrofac Regulatory News (PFC)

13 Nov 2008 10:18



13 November 2008

PETROFAC LIMITED

Petrofac awarded US$543 million lump-sum contract with Kuwait Oil Company

Petrofac, the international oil & gas facilities service provider, announces that it has been awarded a KD147 million (approximately US$543 million) lump-sum contract by Kuwait Oil Company (KOC). The contract is for engineering, procurement and construction services for a new gas pipeline running from KOC's Booster Station 131 in North Kuwait to its liquefied petroleum gas plant located at the Mina Al-Ahmadi refinery.

Petrofac is the main contractor and will commence work shortly, undertaking engineering design, procurement and construction, pre-commissioning and commissioning of the pipeline. The project is expected to last for 21 months. 

The pipeline, approximately 140 kilometres long, will transport gas from Kuwait's northern fields for processing at Mina Al-Ahmadi refinery before being transported to Kuwait's power generation plants.

Commenting on the project, Maroun Semaan, chief executive of Petrofac's Engineering & Construction division, said: "We are delighted to have been selected by KOC for this contract which continues our longstanding involvement in Kuwait with KOC with whom we have an excellent relationship and consolidates further the group's position in the Middle East." 

Ends

For further information contact:

Bell Pottinger Corporate & Financial +44 (0) 20 7861 3232

Charles Cook

Olly Scott

Notes to Editors

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.  

Through its three divisions, Engineering & Construction, Operations Services and Energy Developments, Petrofac designs and builds oil & gas facilities; operates, maintains or manages facilities and trains personnel; and, where return criteria are met and service revenue synergies identified, co-invests with customers and partners. Petrofac's range of services allows it to help meet its customers' needs across the life cycle of oil & gas assets.

With more than 10,000 employees, Petrofac operates out of four strategically located international centres, in Aberdeen, Sharjah, Woking and Mumbai and a further 20 offices worldwide. The predominant focus of Petrofac's business is on the UK Continental Shelf (UKCS), Africa, the Middle East, the Commonwealth of Independent States (CIS) and the Asia Pacific region.

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