PETROFAC AWARDED US$280 MILLI
Press Release
30 December 2010
PETROFAC LIMITED
PETROFAC AWARDED US$280 MILLION OFFSHORE CONTRACT BY PETRONAS IN MALAYSIA
Petrofac, the international oil & gas facilities service provider, has been awarded a contract by Petronas Carigali Sdn Bhd for the development of the SEPAT offshore early production system on the East coast of Peninsular Malaysia. The contract, which is valued at approximately US$280 million, was awarded following a competitive tender and first oil is expected before the end of 2011.
Petrofac will undertake the engineering, procurement, construction, installation and commissioning (EPCIC) for the full scope of the early production system in a water depth of approximately 65 metres. The EPCIC will comprise of a mobile offshore production unit (MOPU), a floating storage and offloading (FSO) facility for the early production of approximately 20,000 barrels of oil per day, and all interconnecting subsea pipelines. These facilities mirror those of the Cendor phase I development, which was also undertaken by Petrofac on behalf of Petronas in record time under a production sharing contract framework.
Local partners supporting Petrofac on this project are Kencana HL, which will add all the processing equipment to the MOPU, and BumiArmada which will supply and install the FSO. The Front End Engineering and Design (FEED) work for the project was carried out in Petrofac's specialist FEED office in Woking, UK.
Maroun Semaan, group chief operating officer, Petrofac, commented: "We are delighted to have been awarded this contract by Petronas, which is our first lump-sum offshore EPCIC contract in South East Asia. The award reinforces our commitment to the region and enables the continued growth of our local delivery capability to support our ongoing relationship with Petronas and other regional partners.
"Petrofac has presented a fast track delivery model using existing vessels for the FSO and MOPU conversions and we should be ready for start-up by the end of 2011. Our ongoing partnership on the Cendor field development project in the region continues to flourish, and we look forward to delivering for Petronas on this project as well."
Ends
For further information contact:
Tulchan Communications Group Ltd +44 (0) 20 7353 4200
James Bradley
David Allchurch
petrofac@tulchangroup.com
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.
The group delivers services through seven business units: Engineering & Construction, Engineering & Construction Ventures, Engineering Services, Offshore Engineering & Operations, Training Services, Production Solutions and Energy Developments.
Through these businesses Petrofac designs and builds oil & 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 & gas assets.
With more than 13,000 employees, Petrofac operates out of six strategically located operational centres, in Aberdeen, Sharjah, Woking, Chennai, Mumbai and Abu Dhabi and a further 19 offices worldwide. The predominant focus of Petrofac's business is on the UK Continental Shelf (UKCS), the Middle East and Africa, 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
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