Re Arzew LNG contract

RNS Number : 9626Y

Petrofac Limited

14 July 2008

 



PETROFAC LIMITED

PETROFAC IKPT IS LOW BIDDER FOR ALGERIAN LNG PLANT

Petrofac, the international oil and gas facilities service provider, together with Indonesia's IKPT, was confirmed as the lowest bidder for the contract to build the Gassi Touil liquefied natural gas (LNG) plant in the industrial area in Arzew, Algeria. The announcement was made at the official open tender ceremony on Saturday 12 July, attended by the Algerian Minister of Energy and senior officials from Sonatrach, the state energy company.

The plant has a production capacity of 4.3 million tons a year and bids for the contract were evaluated on a cost-per-ton basis, with the Petrofac IKPT bid of 55,000 dinars per ton (approximately US$900) confirmed as the lowest.  

Sonatrach has given Petrofac IKPT ten days to obtain the requisite guarantees from the process licensor and selected vendor for the 4.3 MTPA (Metric Tons Per Annum) net on ship plant.

Ends

For further information contact:

Petrofac Limited

Ayman Asfari, Group Chief Executive        [phone]

Keith Roberts, Chief Financial Officer

Jon Low, Head of Investor Relations

Bell Pottinger Corporate & Financial        [phone]

Charles Cook

Olly Scott

Notes to Editors

Petrofac

Petrofac is a leading international provider of facilities solutions 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) and is a constituent of the FTSE 100 Index.  

Through its three divisions, Engineering & Construction, Operations Services and Energy Developments, Petrofac designs and builds oil & gas facilities; operates, maintains or manages facilities and trains personnel; and, where return criteria are met and service revenue synergies identified, co-invests with clients and partners. Petrofac's range of services allows it to help meet its customers' needs across the life cycle of oil & gas assets.

With more than 10,000 employees, Petrofac operates out of four strategically located international centres, in Aberdeen, Sharjah, Woking and Mumbai and a further 20 offices worldwide. The predominant focus of Petrofac's business is on the UK Continental Shelf (UKCS), Africa, the Middle East, the Commonwealth of Independent States (CIS) and the Asia Pacific region.

For additional information, please refer to the Petrofac website at www.petrofac.com.

IKPT and Petrofac

IKPT is a proven engineering construction company listed in Indonesia with a workforce of almost 800 personnel. On 1 April 2008, Petrofac and IKPT signed a landmark 'Heads of Agreement' to set up a joint venture company in Indonesia. The decision to create the JV came after a successful engineering services association between the two companies since June 2006. 

For additional information, please refer to the IKPT website at www.ikpt.com.

 

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