Petrofac Regulatory News (PFC)

1 Mar 2006 07:02

Petrofac Limited01 March 2006 PETROFAC LIMITED ("Petrofac") PETROFAC WINS CONTRACT IN KAZAKHSTAN WITH KARACHAGANAK AWARD Petrofac, the international oil and gas facilities service provider, has securedan engineering services contract for the Karachaganak 4th Stabilisation andSweetening Train Project. The project is aimed at increasing the capacity of the existing KarachaganakProcessing Complex (KPC) facilities by the addition of a fourth train. Thecontract covers front-end engineering and design, including tie-ins and earlyworks construction planning, with options to extend further for detailedengineering, procurement, construction management and commissioning support. Petrofac will work alongside Karachaganak Petroleum Operating B.V. (KPO) and itspartners in the multi-million dollar development. The project will draw onexpertise from throughout Petrofac's Engineering & Construction division.Petrofac will work on the contract with NIPI Caspian Engineering and Research(CER), an affiliate of the Kazakh Institute of Oil and Gas (KING), based inAksai and Aktau. Petrofac and CER will use a jointly developed local engineeringcapability to increase long-term Kazakh development and Kazakh content. Commenting on the award, Ayman Asfari, Petrofac Group Chief Executive, said,"The West Kazakhstan and North Caspian regions are of strategic importance toPetrofac. This award, together with the recently secured Kashagan DevelopmentProject award for the oil, gas and sulphur removal plants, places Petrofac in astrong position to participate in the substantial capital investment programmesthat are being planned on several world-class Kazakh oil and gas developmentsover the next ten to fifteen years." Ends For further information, please contact: Petrofac Limited +44 (0) 20 7471 3500Ayman Asfari, Group Chief ExecutiveKeith Roberts, Chief Financial OfficerRobin Caiger, Head of Investor Relations Bell Pottinger Corporate & Financial +44 (0) 20 7861 3232Ben WoodfordGeoff Callow Notes to Editors Karachaganak Karachaganak Petroleum Operating B.V. (KPO) is a joint venture between BG Group(32.5%), Eni (32.5%), Chevron (20%) and LUKOIL (15%). KPO oversees the expansion and development of the Karachaganak field - one ofthe world's largest oil and gas condensate fields - which is located in NorthWest Kazakhstan and holds over 1.2 billion tonnes of oil and condensate and morethan 1.35 trillion cubic metres of gas. KPO's operations are regulated through a 40-year Final Production SharingAgreement (FPSA) signed by the Kazakhstan government and the partners inNovember 1997. Development of the field is bringing significant income to both the national andlocal economies and the project is providing long-term jobs to many Kazakhnationals. For additional information, please refer to the KPO website at www.kpo.kz. 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 (E&C), OperationsServices (OS) and Resources, Petrofac designs and builds oil and gas facilities;operates, maintains or manages facilities and trains personnel; and, wherereturn criteria are met and service revenue synergies identified, co-investswith clients and partners. Petrofac's range of services allows it to help meetits clients' needs across the life cycle of oil and gas assets. Petrofac operates out of four strategically placed international centres inAberdeen, Scotland; Sharjah, UAE; Mumbai, India; and Woking, England, and has afurther 13 offices worldwide, with approximately 7,000 employees. Petrofac's business is focused on the UK Continental Shelf (UKCS), the MiddleEast, Africa and the Former Soviet Union (FSU). Through both organic growth andstrategic acquisition, Petrofac's engineering, procurement and constructionactivities have been complemented with development planning and early stageengineering services, facilities management and training services andco-investment. 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