Petrofac awarded US$600 million project in Algeria

RNS Number : 0985Z

Petrofac Limited

29 August 2018

 

Press Release

29 August 2018

PETROFAC AWARDED US$600 MILLION PROJECT IN ALGERIA

Petrofac has received a provisional letter of award for an engineering, procurement and construction (EPC) contract worth US$600 million with Sonatrach for EPC1 of the Tinhert Field Development Project in Algeria. Formal contract signing is expected to take place in September 2018.

Located in Ohanet, around 1,500 kilometres southeast of Algiers, EPC1 will provide a new inlet separation and compression centre. Under the terms of the 36-month contract, the scope of work includes a pipeline network of approximately 400 km to connect 36 wells, along with commissioning, start-up and performance testing of facilities.

E S Sathyanarayanan, Group Managing Director, Engineering & Construction, commented: "This award builds on Petrofac's significant track record in Algeria where we have been working in support of the country's oil and gas production for more than two decades.

"We have continued to grow our presence in-country through a number of major EPC and engineering services contracts with Sonatrach, including the Alrar and Reggane projects that commenced production this year, and look forward to deploying our expertise to deliver this project with operational excellence and safe project execution at the core of our approach."

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For further information, contact:

Petrofac Limited      

[phone]

Jonathan Low, Head of Investor Relations

[e-mail]

Alison Flynn, Group Head of Communications

[e-mail] 

[phone]

Tulchan Communications Group

[phone]

[e-mail]

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 12,500 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.

 

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