Petrofac Regulatory News (PFC)

27 Nov 2006 14:18

Petrofac Limited27 November 2006 PETROFAC LIMITED ("PETROFAC") PETROFAC WINS CONSECUTIVE GAS PLANT CONTRACT IN EGYPT Petrofac, the international oil & gas facilities service provider, has beenawarded an additional lump sum engineering, procurement and construction (EPC)scope by Khalda Petroleum Company (KPC) to build its fourth gas processing trainat Salam area in Egypt's Western Desert. This second consecutive train, awardedto Petrofac by KPC during November, increases the Khalda contract from US$200million to a total of US$375 million. KPC is the joint venture company betweenApache Corporation and Egyptian General Petroleum Corporation (EGPC). The project, scheduled for completion by the end of 2008, will also be utilisingthe services and expertise of local construction and fabrication companyPetrojet. The project scope covers the execution of project management, detaileddesign, procurement, construction, pre-commissioning, commissioning, start-up,performance testing and initial operations. KPC will be adding this fourth gasprocessing train to its existing and recently awarded similar gas facilities inthe Salam area, to process gas produced from its new discoveries. Commenting on the award, Maroun Semaan, Chief Executive, Petrofac Engineering &Construction said: "We are proud to receive this successive award from KPC whichfurther consolidates our position in the Egyptian market. This award is alsosignificant in reinforcing Petrofac's position in its core gas plant businessand we look forward to working with KPC towards successful project delivery." Ends For further information, contact: Petrofac Limited +44 (0) 20 7811 4900Ayman Asfari, Group Chief ExecutiveKeith Roberts, Chief Financial OfficerRobin Caiger, Head of Investor Relations Bell Pottinger Corporate & Financial +44 (0) 20 7861 3232Ann-marie WilkinsonGeoff Callow Notes to Editors Khalda Khalda's joint venture partner, Apache Corporation, is one of the largestindependent oil and gas exploration development companies. Egypt is a rapidlygrowing segment of Apache's international portfolio with rising production andreserves and an extensive exploration programme that resulted in the largestdiscovery in Apache's history at Qasr in the Khalda Concession during 2005. Project Technical Information SGT3 and SGT4 will be two gas conditioning trains encompassing gas separation,mercury removal, gas dehydration, TEG regeneration, gas dew-pointing, CO2removal, gas export compression, condensate stabilisation, condensate storageand export system, recycle gas compression, flare system, hot oil system, powergeneration/distribution and all associated tie-ins with the existing plant. 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, Operations Services andResources, Petrofac designs and builds oil and 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 clients' needsacross the life cycle of oil and gas assets. With approximately 8,000 employees, Petrofac operates out of four strategicallylocated international centres, in Aberdeen, Sharjah, Woking and Mumbai and afurther 13 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 Far East. 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