Petrofac Regulatory News (PFC)

28 Nov 2007 07:00

Petrofac Limited28 November 2007 Petrofac Limited Petrofac secures In Salah Gas Compression Project Petrofac, the international oil & gas facilities service provider, has beenawarded a US$600 million lump-sum engineering, procurement and constructioncontract by In Salah Gas (ISG), an association between Sonatrach (35%), BP (33%)and Statoil (32%) to develop and market gas from the District 3 region in thecentral Sahara area of Algeria. Petrofac's scope of work includes the design and installation of additional field compression facilities at each of the three northern fields of REG, TEG and Krechba, in order to maintain plateau production rates of 9 billion cubic metres per year beyond 2009. Scheduled for phased completion during 2009 and 2010, the objective of theproject is to maintain gas production at plateau levels by reducing the pressureat the wellheads and compressing the gas to the required inlet pressure to theexisting facilities. The facilities at TEG and REG will be almost identical withtwo trains of single stage compression at each site, using gas turbines to drivethe compressors. The Krechba facility will consist of a single train ofcompression driven by an electric motor with additional power requirements beingmet by installing a third gas turbine generator. The project will also includetie-ins to the existing facilities at all three locations. Commenting on the award, Maroun Semaan, Chief Executive, Petrofac Engineering &Construction, said: "The award of the In Salah Gas Compression project is amajor accomplishment and I am delighted that we are now firmly back in theAlgeria market. This is Petrofac's first project in the south western region ofAlgeria where significant future work will be undertaken by Sonatrach and itsvarious foreign partner associations, including the future development by ISG ofthe southern In Salah fields." - Ends - For further information, please contact: Petrofac Limited +44 (0) 20 7811 4900Ayman Asfari, Group Chief ExecutiveKeith Roberts, Chief Financial OfficerJonathan Low, Head of Investor Relations Bell Pottinger Corporate & Financial +44 (0) 20 7861 3232Ann-marie WilkinsonOlly Scott Notes to Editors In Salah Gas The In Salah Gas project is based on the development of seven core gas fields,with three fields, namely Krechba, REG and TEG initially developed and startedproduction in 2004 (Phase I). It is planned to develop the other four fields(Gour Mahmoud, In Salah, Hassi Moumene and Garet El Befinat) at a future date.The project is located approximately 1,200 kilometres south of Algiers inDistrict 3 region in the central Sahara region of In Salah. Petrofac Petrofac is a leading international provider of facilities solutions to the oil& gas production and processing industry, with a diverse customer portfolioincluding many of the world's leading integrated, independent and national oil &gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC) andis a constituent of the FTSE 250 Index. Through its three divisions, Engineering & Construction, Operations Services andEnergy Developments, Petrofac designs and builds oil & gas facilities; operates,maintains or manages facilities and trains personnel; and, where return criteriaare met and service revenue synergies identified, co-invests with clients andpartners. Petrofac's range of services allows it to help meet its customers'needs across the life cycle of oil & gas assets. With more than 9,500 employees, Petrofac operates out of four strategicallylocated international centres, in Aberdeen, Sharjah, Woking and Mumbai and afurther 16 offices worldwide. The predominant focus of Petrofac's business is onthe UK Continental Shelf (UKCS), Africa, the Middle East, the Commonwealth ofIndependent States (CIS) and the Asia Pacific region. For additional information, please refer to the Petrofac website at www.petrofac.com. This information is provided by RNS The company news service from the London Stock Exchange