Petrofac JV Awarded US$3.7 Billion Kuwait Project

RNS Number : 8917Z

Petrofac Limited

12 February 2014

 



Press Release

12 February 2014

PETROFAC / SAMSUNG / CB+I JV AWARDED US$3.7 BILLION REFINERY PROJECT IN KUWAIT

Petrofac, the international oil and gas services provider, leading a joint venture with Korean based Samsung Engineering Co Ltd (Samsung) and CB&I Nederland BV (CB&I) has received an award notification for Kuwait National Petroleum Company's (KNPC) Clean Fuels Project, Mina Abdulla (MAB1) refinery in Kuwait.

Located in southern Kuwait, the US$3.7 billion contract, of which Petrofac's share is US$1.7 billion, will be completed over a period of approximately four years.

The lump sum engineering, procurement and construction scope of work includes the provision of 19 new refining units at Mina Abdulla, revamping of five existing units at the Shouaiba refinery site and the accompanying inter-refinery transfer lines. 

The Clean Fuels Project is one of KNPC's major investment projects to upgrade the Mina Abdulla and Mina Al Ahmadi refineries, in order to reach a daily production target of around 800,000 barrels of oil per day.

Subramanian Sarma, Managing Director of Petrofac's Onshore Engineering & Construction business, commented:  "This will be our ninth project in Kuwait and I am delighted we have secured the opportunity to work with KNPC, who is a new customer for us.  Along with our partners, Samsung and CB&I I look forward to strengthening the relationship with KNPC as we deliver the project."

This is the second substantial refinery project to be awarded to Petrofac within recent months; the first being the US2.1 billion Sohar Refinery improvement project for Oman Oil Refineries and Petroleum Industries Company in Oman and further underpins the Group's appetite in the downstream sector.  

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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.

 

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