Petrofac Awarded US$970M Reggane North Project

RNS Number : 3110H

Petrofac Limited

16 May 2014

 



Press Release

16 May 2014

PETROFAC AWARDED US$970M REGGANE NORTH DEVELOPMENT PROJECT

Petrofac, the international oil and gas services provider, has been awarded a 36 months, of execution, contract worth more than US$970 million for the gas gathering, treatment and export facilities package (EPCCS1) of the Reggane North Development Project (Reggane) located in the Reggane basin of the Algerian Sahara desert 1,500 km south-west of Algiers.

Awarded by Groupement Reggane, a partnership comprising Algerian state-owned company Sonatrach (40%), Spain's Repsol (29.25%), Germany's RWE Dea AG (19.5%) and Edison of Italy (11.25%), Petrofac will be undertaking the engineering, procurement, construction, commissioning and start-up (EPCCS) of the gas treatment plant, gathering system and export pipeline.

The Reggane project will bring on stream 26 wells from four fields in the Reggane basin (Reggane, Kahlouche, Kahlouche South and Azrafil South East), all part of permissions granted for blocks 351c and 352c.  

Subramanian Sarma, Managing Director of Petrofac's Onshore Engineering & Construction business, commented:  "I am delighted we have the opportunity to be working with the Groupement Reggane partners to deliver this strategically important upstream project.  The award also represents another important building block in our long association with Algeria where we have been operating successfully for more than 15 years."

Petrofac's ongoing EPC activities in Algeria also include the Southern fields development project for In Salah Gas (ISG), an association between Sonatrach, BP and Statoil, and the Alrar gas field development project which is being executed for Sonatrach in partnership with Italian contractor Bonatti. 

Ends

For further information contact:

Alison Flynn

Head of Media Relations

Petrofac

[e-mail]                                                   [phone]

Petrofac Investor Relations                                                   [phone]

Jonathan Low

Jonathan Edwards    

[e-mail]

Tulchan Communications Group Ltd

Stephen Malthouse

Martin Robinson

[e-mail]                                                  [phone]

Notes to Editors

Petrofac

Petrofac is a leading international service provider to the oil and gas production and processing industry, with a diverse customer 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 customers' needs across the full life cycle of oil and gas assets.

With more than 18,000 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.

 

END

 

 

CNTQKADBABKKOPD