Last checked at 16 May 2014 07:31
Press Release
16 May 2014
PETROFAC AWARDED US$970M REGGANE NORTH DEVELOPMENT PROJECT
Petrofac, the international oil and gas services provider, has been awarded a 36 months, of execution, contract worth more than US$970 million for the gas gathering, treatment and export facilities package (EPCCS1) of the Reggane North Development Project (Reggane) located in the Reggane basin of the Algerian Sahara desert 1,500 km south-west of Algiers.
Awarded by Groupement Reggane, a partnership comprising Algerian state-owned company Sonatrach (40%), Spain's Repsol (29.25%), Germany's RWE Dea AG (19.5%) and Edison of Italy (11.25%), Petrofac will be undertaking the engineering, procurement, construction, commissioning and start-up (EPCCS) of the gas treatment plant, gathering system and export pipeline.
The Reggane project will bring on stream 26 wells from four fields in the Reggane basin (Reggane, Kahlouche, Kahlouche South and Azrafil South East), all part of permissions granted for blocks 351c and 352c.
Subramanian Sarma, Managing Director of Petrofac's Onshore Engineering & Construction business, commented: "I am delighted we have the opportunity to be working with the Groupement Reggane partners to deliver this strategically important upstream project. The award also represents another important building block in our long association with Algeria where we have been operating successfully for more than 15 years."
Petrofac's ongoing EPC activities in Algeria also include the Southern fields development project for In Salah Gas (ISG), an association between Sonatrach, BP and Statoil, and the Alrar gas field development project which is being executed for Sonatrach in partnership with Italian contractor Bonatti.
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For further information contact:
Alison Flynn
Head of Media Relations
Petrofac
Alison.flynn@petrofac.com +44 (0) 20 7811 4913
Petrofac Investor Relations +44 (0)20 7811 4900
Jonathan Low
Jonathan Edwards
IR@petrofac.com
Tulchan Communications Group Ltd
Stephen Malthouse
Martin Robinson
petrofac@tulchangroup.com +44 (0) 20 7353 4200
Notes to Editors
Petrofac
Petrofac is a leading international service provider to the oil and gas production and processing industry, with a diverse customer 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 customers' needs across the full life cycle of oil and gas assets.
With more than 18,000 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.