Petrofac awarded US$580million EPC contract

RNS Number : 1418I
Petrofac Limited
19 March 2018
 

Press Release

 

 

19 March 2018

 

 

PETROFAC AWARDED US$580 MILLION EPC CONTRACT

Petrofac Limited is pleased to announce it has signed a binding letter of intent, for a contract worth around US$580 million with a GCC National Oil Company for the engineering, procurement and construction (EPC) of a major project.  Specific details in relation to the project remain confidential at this time and additional information will be announced in due course.

 

E S Sathyanarayanan, Group Managing Director, Engineering & Construction, commented: "Petrofac has a very strong record of project execution in the GCC. This latest contract award further cements our footprint in our core markets, and we look forward to delivering a safe and successful project."

 

 

Ends

 

 

 

 

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016.

 

 

 

For further information contact:

 

Petrofac Limited      

+44 (0) 207 811 4900

 

Jonathan Low, Head of Investor Relations

jonathan.low@petrofac.com

 

 

Alison Flynn, Group Head of Communications

alison.flynn@petrofac.com 

+44 (0) 207 811 4913

 

Tulchan Communications Group

+44 (0) 207 353 4200

petrofac@tulchangroup.com

 

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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