Petrofac Limited
05 December 2005
PETROFAC LIMITED
("Petrofac")
PETROFAC SECURES LONG-TERM CONTRACT WITH CNR INTERNATIONAL
Petrofac, the international oil and gas facilities service provider, announces
today that it has received a Letter of Intent from CNR International (UK)
Limited under which it has been asked to provide Operations Support services for
four fixed installations in the UK Continental Shelf comprising the Ninian and
Murchison fields. Petrofac has provided services to these facilities since the
mid 1990's. CNR acquired the assets from Kerr-McGee and became operator of the
fixed installations in December 2002.
The contract has an estimated annual value of £20 million and will commence in
2006 initially for five years with the intention of continuing for the life of
the assets.
Commenting on the contract, Ayman Asfari, Group Chief Executive, stated:
"We are delighted to extend our relationship with CNR, who is a major player in
Mature North Sea Asset operation. It demonstrates the confidence CNR has in
Petrofac's abilities and further cements our position as the leading facilities
management provider to companies operating in the North Sea."
Ends
For further information, please contact:
Petrofac Limited +44 (0) 20 7471 3500
Ayman Asfari, Group Chief Executive
Keith Roberts, Chief Financial Officer
Robin Caiger, Head of Investor Relations
Bell Pottinger Corporate & Financial +44 (0) 20 7861 3232
Ann-Marie Wilkinson
Geoff Callow
Notes to Editors
Petrofac is a leading international provider of facilities solutions 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.
Through its three divisions, Engineering & Construction (E&C), Operations
Services (OS) and Resources, Petrofac designs and builds oil and gas facilities;
operates, maintains or manages facilities and trains personnel; and, where
return criteria are met and service revenue synergies identified, co-invests
with clients and partners. Petrofac's range of services allows it to help meet
its clients' needs across the life cycle of oil and gas assets.
Petrofac operates out of four strategically placed international centres in
Aberdeen, Scotland; Sharjah, UAE; Mumbai, India; and Woking, England, and has a
further 13 offices worldwide, with approximately 5,500 employees.
Petrofac's business is focused on the UK Continental Shelf (UKCS), the Middle
East, North Africa and the Former Soviet Union (FSU). Through both organic
growth and strategic acquisition, Petrofac's engineering, procurement and
construction activities have been complemented with development planning and
early stage engineering services, facilities management and training services
and co-investment.
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
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