Last checked at 28 Mar 2017 11:38
Press Release
28 March 2017
PETROFAC AWARDED US$1.3 BILLION PROJECT IN KUWAIT
Petrofac has been awarded a contract for Kuwait Oil Company's (KOC) gathering centre project, GC 32, located in the Burgan oil field, south east of Kuwait.
The lump-sum engineering, procurement and construction (EPC) project, valued at approximately US$1.3 billion, is the first sour gathering centre to be developed in the field and will process crude oil and associated gas recovered from the Arifjan, Marat, Minagish Oolite and Burgan Wara high Hydrogen Sulphide fields.
Work will begin shortly and is scheduled to be completed in mid 2020. The scope of work for GC 32 includes greenfield activities with tie-in works to existing brownfield infrastructure, and will have the capacity to produce around 120,000 barrels of oil per day together with associated water, gas and condensate.
Marwan Chedid, Group Chief Operating Officer, said: "Kuwait is one of our core markets in the Middle East and we have been executing projects in the country since the early 1980's. We are proud to continue our association with KOC and look forward to working closely with them to deliver the project."
Ends
This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016.
For further information contact:
Petrofac Limited +44 (0) 207 811 4900
Jonathan Low, Head of Investor Relations
Jonathan Edwards, Investor Relations Manager
Alison Flynn, Group Head of Communications +44 (0) 207 811 4913
Tulchan Communications Group LLP +44 (0) 207 353 4200
Martin Robinson
Stephen Malthouse
petrofac@tulchangroup.com
NOTES TO EDITORS
Petrofac
Petrofac is a leading international service provider to the oil and gas production and processing industry, with a diverse client portfolio including many of the world's leading integrated, independent and national oil and gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC).
Petrofac designs and builds oil and 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 clients' needs across the full life cycle of oil and gas assets.
With around 13,500 employees, Petrofac operates out of seven strategically located operational centres, in Aberdeen, Sharjah, Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a further 24 offices worldwide.
For additional information, please refer to the Petrofac website at www.petrofac.com.