Kashgan field development
Petrofac Limited
18 April 2008
PETROFAC SECURES FURTHER AWARD FOR KASHAGAN FIELD DEVELOPMENT PROJECT
Petrofac, the international oil & gas facilities service provider, has secured
an additional award at the Kashagan facility in Kazakhstan, operated by Agip
KCO.
The award, with a US$105 million lump-sum scope and a US$10 million optional
scope, is to engineer and procure a fourth sales gas compressor train within the
gas and LPG plant and undertake debottlenecking modifications to tranches 1 and
2 of the gas treatment plant. The project is necessary to accommodate the
additional gas associated with the processing of the production from the third
oil train. This work will be carried out as an amendment to the existing gas
treatment plant contract, also being executed by Petrofac.
Petrofac's work to date on the Experimental Phase of the Kashagan field
development project includes engineering, procurement and construction
management for the oil treatment plant, gas and LPG treatment plant and sulphur
treatment plant.
Commenting on the project, Maroun Semaan, chief executive of Petrofac's
Engineering & Construction division, said: "We are delighted to have secured
this additional work; it represents Agip KCO's continued confidence in Petrofac
to deliver and further reinforces our position in and commitment to the
substantial capital investment programmes that are underway and being planned in
Kazakhstan and the Caspian region."
- 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
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 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 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 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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