Press Release
11 June 2015
PETROFAC AWARDED ENGINEERING AND PROCUREMENT CONTRACT IN OMAN
Petrofac, the international service provider to the oil and gas industry, has been awarded an engineering and procurement contract by Petroleum Development Oman (PDO) to provide services for its Yibal Khuff project, a field located approximately 350 km south west of Muscat in the Sultanate of Oman.
Under the terms of the four and a half year contract Petrofac will be providing reimbursable detailed engineering, and construction and commissioning management support services and procurement on an incentivised pass-through basis. This will extend throughout construction and during start-up of the integrated oil and sour gas facility.
The total contract value is expected to be around US$ 900 million with around one-quarter of the revenues relating to professional services (engineering, construction and commissioning management).
Development of the field will add to PDO's future oil production whilst the associated gas will be utilised for power generation and enhanced oil recovery developments.
Craig Muir, Managing Director for Petrofac's Engineering & Consulting Services business commented: "This contract builds on the Rabab Harweel Integrated Project which we are already executing alongside PDO and represents a further milestone in the development of our EPCm delivery strategy. Furthermore it reinforces our presence in Oman where we have a number of ongoing projects and a local engineering office, and where this project will further complement our agenda for increasing in country value.
We will continue to maintain a strong focus on this aspect of our delivery by accessing the local supply chain and recruitment of local resources and we are very much looking forward to growing and strengthening the team working alongside PDO to deliver this project."
Ends
For further information contact:
Alison Flynn
Head of Media Relations
Petrofac
[email protected] +44 (0) 20 7811 4913
Petrofac Investor Relations +44 (0)20 7811 4900
Jonathan Low
Jonathan Edwards
[email protected]
Tulchan Communications Group Ltd
Stephen Malthouse
Martin Robinson
[email protected] +44 (0) 20 7353 4200
Notes to Editors
Petrofac
Petrofac is a leading international service provider to the oil & gas production and processing industry, with a diverse client portfolio including many of the world's leading integrated, independent and national oil & gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC).
Petrofac designs and builds oil & 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 & gas assets.
With around 20,000 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.
