Last checked at 30 Jun 2023 07:00
Petrofac Limited ( PFC) Petrofac Limited: ADNOC AWARDS PETROFAC US$700 MILLION EPC PROJECT 30-Jun-2023 / 07:00 GMT/BST 30 June 2023ADNOC AWARDS PETROFAC US$700 MILLION EPC PROJECT
Petrofac, a leading international service provider to the energy industry, has been selected by the Abu Dhabi National Oil Company (ADNOC) subsidiary, ADNOC Gas Processing, to undertake a significant new Engineering, Procurement and Construction project at its Habshan Complex.
The contract, awarded to Petrofac Emirates, is valued at approximately US$700 million and involves the Engineering, Procurement and Construction of a new gas compressor plant. Comprising three gas compressor trains, associated utilities and power systems, the new plant will support ADNOC to substantially increase gas output from the Habshan Complex, West of Abu Dhabi.
Tareq Kawash, Petrofac's Group Chief Executive, said: “We are thrilled to have been selected by ADNOC, one of Petrofac’s longest-standing customers, to undertake this significant new EPC project in our home market of the UAE. We very much look forward to working together with ADNOC to safely and sustainably develop this critical energy resource.”
Elie Lahoud, Chief Operating Officer, Petrofac Engineering & Construction commented: “Petrofac has a long and strong track record supporting ADNOC in the UAE, rooted in our steadfast commitment to maximising local delivery, investing in the local supply chain, and developing local teams. This focus on In-Country Value will once again underpin our approach to delivery for ADNOC on the strategically significant Habshan Complex.”
Petrofac first established a presence in the UAE in 1991 and has developed a large workforce to support both regional and international projects. With a commitment to deliver In-Country Value, Emiratisation is a key business priority and Petrofac is actively promoting current career opportunities.
ENDS
For further information contact: Petrofac Limited +44 (0) 20 7811 4900
James Boothroyd, Head of Investor Relations James.boothroyd@petrofac.com
Sophie Reid, Group Head of Communications Sophie.reid@petrofac.com
Teneo (for Petrofac) +44 (0) 20 7353 4200 petrofac@teneo.com Martin Robinson
NOTES TO EDITORS
Petrofac
Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world's leading energy companies.
Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world's evolving energy needs. Our four values - driven, agile, respectful and open - are at the heart of everything we do.
Petrofac's core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, South East Asia and the United States. We have 7,950 employees based across 31 offices globally.
Petrofac is quoted on the London Stock Exchange (symbol: PFC).
For additional information, please refer to the Petrofac website at www.petrofac.com
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| ISIN: | GB00B0H2K534 |
| Category Code: | MSCH |
| TIDM: | PFC |
| LEI Code: | 2138004624W8CKCSJ177 |
| OAM Categories: | 2.2. Inside information |
| Sequence No.: | 254492 |
| EQS News ID: | 1669465 |
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