Jihar gas plant project
Petrofac Limited
20 March 2008
PETROFAC LIMITED
PETROFAC AWARDED JIHAR GAS PLANT PROJECT IN SYRIA
Petrofac, the international oil & gas facilities service provider, has received
a letter of intent for the award of a Euros €291 million (US$454 million)
lump-sum contract by the Hayan Petroleum Company in Syria to construct a gas
treatment plant.
The plant will be built on the Jihar field in the Hayan Block, located near to
the town of Palmyra, which consists of the gas/condensate/oil fields for Jihar,
Al Mahr & Jazal. Petrofac's comprehensive scope of work will cover engineering,
procurement and construction, pre-commissioning and commissioning, and start-up
of the gas processing facilities. In addition to the plant, Petrofac will build
an LPG recovery system, LPG storage and loading facility, gas gathering and
collection systems, satellite gathering station, well sites, flow lines,
utilities and offsite facilities, gathering pipelines and living quarters. The
project is due to be completed first quarter 2011.
The Hayan Petroleum Company (HPC) is a joint stock company owned equally between
Syrian Petroleum Company (a Syrian Government company) and INA Industrija Nafte
d.d.-Naftaplin (a part of INA d.d., a Croatian company) that has some ten years
of experience in Syria's oil industry.
Commenting on the award, Maroun Semaan, Chief Executive, Petrofac Engineering &
Construction, said: "This development capitalises on our execution capability in
Syria where we have successfully completed several EPC projects. We are pleased
to be back in this market."
- Ends -
For further information, please contact:
Petrofac Limited +44 (0) 20 7811 4900
Ayman Asfari, Group Chief Executive
Keith Roberts, Chief Financial Officer
Jonathan Low, Head of Investor Relations
Bell Pottinger Corporate & Financial +44 (0) 20 7861 3232
Ann-marie Wilkinson
Olly Scott
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 250 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 it can leverage
its service capability, develops and 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 9,500 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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