Petrofac Limited PETROFAC AWARDED CONTRACT FOR KHAZZAN (1290Z)
13 December 2017 - 2:11AM
UK Regulatory
TIDMPFC
RNS Number : 1290Z
Petrofac Limited
12 December 2017
Press Release
12 December 2017
PETROFAC AWARDED CONTRACT FOR KHAZZAN
PHASE 2 IN OMAN
Petrofac has been awarded a lump-sum contract worth
approximately US$800 million by BP for the Phase 2 central
processing facility (CPF) at the Khazzan Phase 2 (Ghazeer) gas
development in the Sultanate of Oman. This follows the US$ 1.4
billion Phase 1 CPF Khazzan project, awarded to Petrofac in
February 2014, which celebrated first gas on 22 September this
year.
The project comprises the addition of a third gas train with a
capacity for nominally handling 500 million standard cubic feet of
gas per day (mmscfd), which will help drive increased total
production capacity from the CPF to 1,500 mmscfd. The Engineering,
Procurement, Construction and Commissioning (EPCC) scope of work
also includes liquid and compression trains and associated
infrastructure, as well as brownfield work associated with
connecting the Phase 1 and 2 facilities.
Ayman Asfari, Petrofac Group Chief Executive commented:
"Petrofac has executed a large number of projects for BP across
many aspects of our business and we are delighted to be supporting
them on the next phase of this pioneering project in Oman. We have
a very strong record for project execution in Oman and as part of
this have delivered significant in-country value. We look forward
to continuing to demonstrate our commitment to a sustainable and
long-term presence in the Sultanate through the safe and timely
delivery of this project for BP."
Bernard Looney, Chief Executive Upstream at BP, said: "The
successful start of production from Khazzan Phase 1 was a major
milestone for BP in 2017. We are now building on this, deepening
our partnership with the Sultanate of Oman, as we work towards
development of the second phase and this award to Petrofac will
continue the relationship that delivered Phase 1."
Elie Lahoud, Petrofac Senior Vice President, Operations said:
"We are proud to have been part of the Khazzan journey since the
outset of Phase 1. This new award comes shortly after the start of
production from the Phase 1 CPF facilities in September. That
achievement provides us with a proven delivery model that, coupled
with the knowledge gained from the earlier project and the strong
support from our contractors, positions us well to deliver a great
project for BP and Oman."
BP Oman is lead partner in the Khazzan project with a 60%
interest. Oman Oil Company Exploration & Production holds
40%.
Ends
This announcement contains inside information which is disclosed
in accordance with the Market Abuse Regulation which came into
effect on 3 July 2016.
For further information contact:
Petrofac Limited
+44 (0) 207 811 4900
Jonathan Low, Head of Investor Relations
jonathan.low@petrofac.com
Alison Flynn, Group Head of Communications
alison.flynn@petrofac.com
+44 (0) 207 811 4913
Tulchan Communications Group
+44 (0) 207 353 4200
petrofac@tulchangroup.com
Martin Robinson
LEI 2138004624W8CKCSJ177
NOTES TO EDITORS
Petrofac
Petrofac is a leading international service provider to the oil
and gas production and processing industry, with a diverse client
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 clients' needs across the
full life cycle of oil and gas assets.
With around 13,000 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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