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Company Petrofac Limited
TIDM PFC
Headline

Petrofac Consortium Awarded US$3.7bn Contract

Released 10:32 11-Apr-2013
Number 1186C10

RNS Number : 1186C
Petrofac Limited
11 April 2013
 



Press Release

 

 

11 April 2013

 

PETROFAC LIMITED

 

PETROFAC CONSORTIUM AWARDED US$3.7 BILLION ABU DHABI CONTRACT

 

 

Petrofac is pleased to announce that Petrofac Emirates, its Joint Venture with Mubadala Petroleum, has been awarded a contract by Zakum Development Company (ZADCO) for the Upper Zakum, UZ750 field development in Abu Dhabi.  The contract is worth approximately US$3.7 billion and has been secured by Petrofac Emirates in consortium with Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME).  Petrofac Emirates' share of the contract is valued at US$2.9 billion.

 

ZADCO is an Abu Dhabi National Oil Company subsidiary in which ExxonMobil and Japan Oil Development Company are other Shareholders.

 

Subramanian Sarma, Managing Director of Petrofac's Onshore Engineering & Construction (OEC) business, commented:  "I am delighted that Petrofac has been selected to deliver this landmark project for the Upper Zakum development in Abu Dhabi.  Through Petrofac Emirates we continue to show our commitment to supporting the oil & gas industry in Abu Dhabi and this project builds on the substantial work we have underway in the UAE.  We look forward to developing our relationship with ZADCO through the successful delivery of this strategically important project."

 

The project comprises engineering, procurement, construction transportation and commissioning of island surface facilities (EPC-2) on four artificial islands.  Specifically, this will include wellhead control, manifolds, crude oil process facilities, water injection and gas lift, oil export pumps, power generation and associated utilities.  These facilities will commence operations during 2016.

 

Ends

 

 

 

 

 

 

 

 

 

 

 

For further information contact:

 

Tulchan Communications Group Ltd                                  +44 (0) 20 7353 4200

Stephen Malthouse

Martin Robinson

petrofac@tulchangroup.com

 

 

 

 

 

Notes to Editors

 

Petrofac Emirates

Petrofac Emirates is the joint venture established in 2008 between Petrofac (49%) and Mubadala Petroleum (51%).  Mubadala Petroleum is owned by Mubadala Development Company, the Abu Dhabi state owned investment and development company. 

 

Petrofac

 

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


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Petrofac Consortium Awarded US$3.7bn Contract - RNS