|Go to market news section|
2 April 2013
PETROFAC AWARDED US$500 MILLION OFFSHORE PROJECT IN ABU DHABI
Petrofac has been awarded an engineering, procurement, installation and commissioning (EPIC) contract by Abu Dhabi Marine Operating Company (ADMA-OPCO) for Satah Al Razboot (SARB) package 3 project, offshore Abu Dhabi. The US$500 million competitively tendered contract will commence shortly and will be delivered by April 2016.
The SARB Project is a high priority and new field development offthe northwestcoast of Abu Dhabi. Drilling will be conducted from two artificial islands (SARB1 and SARB2) with the well fluid sent by subsea pipeline to a facility on Zirku Island for processing, storage and export. Under the terms of the contract Petrofac will deliver 200km of subsea pipelines for well fluid, water injection, gas injection, flare and export, along with 3km of onshore pipeline and 55km of subsea power and communication cables. Further offshore scope of the contract includes the provision of two riser platforms and four flare platforms with four interconnecting bridges and one single point mooring (SPM) buoy located at the north of Zirku Island. The onshore scope of the contract includes the following: drilling utilities, foundations on SARB1 and SARB2, transport, install, hook up and assistance in the commissioning of the accommodation modules.
Yves Inbona, Managing Director of Petrofac's Offshore Capital Projects (OCP) business, commented: "We are delighted to have been chosen to deliver this important project as part of the high priority SARB development. This award is further confirmation of the increased demand we see for Petrofac to broaden its market leading EPC capability offshore, and we look forward to cooperating with ADMA-OPCO and meeting its fast track requirements on this highly significant development."
For further information contact:
Tulchan Communications Group Ltd +44 (0) 20 7353 4200
Notes to Editors
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.
London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.
|©London Stock Exchange plc. All rights reserved|