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Company Petrofac Limited
TIDM PFC
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Petrofac awarded US$700 million project in Kuwait

Released 07:50 10-Jul-2014
Number 9430L07

RNS Number : 9430L
Petrofac Limited
10 July 2014
 



Press Release

 

 

 

10 July 2014

 

 

 

 

PETROFAC AWARDED US$700 MILLION

GATHERING CENTRE PROJECT IN KUWAIT

 

Petrofac, the international oil and gas services provider has received an award notification for Kuwait Oil Company's (KOC) gathering centre 29 (GC29) which is located approximately 70 km north of Kuwait City in the north of the country.  

 

Valued at approximately US$700 million, the project will be completed over a period of approximately three years.  The competitively tendered lump-sum greenfield scope of work includes the engineering, procurement, construction, pre-commissioning and commissioning of GC29. 

 

GC29 is one of three gathering centres being constructed to support KOC's plans to increase and maintain oil production over the next five years.  Each of the three gathering centres will be capable of producing around 100,000 barrels of oil per day together with associated water and gas. 

 

Subramanian Sarma, Managing Director of Petrofac's Onshore Engineering & Construction business, commented:  "We have a long track record with KOC which extends over the last 14 years and the award of GC29 represents our tenth project in the country to date.  With ongoing projects for both KOC and Kuwait National Petroleum Company and good visibility of the future pipeline, Kuwait is, and will continue to be, of strategic importance to Petrofac's ambitions in the Middle East market."

 

Ends

 



 

 

For further information contact:

 

Alison Flynn

Head of Media Relations

Petrofac

Alison.flynn@petrofac.com                                                   +44 (0) 20 7811 4913

 

Petrofac Investor Relations                                                  +44 (0)20 7811 4900

Jonathan Low

Jonathan Edwards    

IR@petrofac.com

 

Tulchan Communications Group Ltd

Stephen Malthouse

Martin Robinson

petrofac@tulchangroup.com                                                          +44 (0) 20 7353 4200

 

 

 

 

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.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Petrofac awarded US$700 million project in Kuwait - RNS