Petrofac consortium in Kazakhstan project
Press Release
19 September 2013
PETROFAC LIMITED
PETROFAC CONSORTIUM APPOINTED BY KLPE LLP (KLPE) FOR INTEGRATED PETROCHEMICAL PROJECT IN KAZAKHSTAN
Petrofac in consortium with Linde AG of Germany (Linde) and GS Engineering & Construction Corporation, Republic of Korea (GS) (the 'consortium') have been engaged by KLPE LLP (KLPE), to provide services in relation to development of its Integrated Petrochemicals Complex and Infrastructure (IPCI) project, situated in the Tengiz and Karabatan regions of Kazakhstan.
The US$77 million first phase of the contract, valued at approximately US$21 million for Petrofac's share, will involve the consortium undertaking engineering work on an Open Book Estimate (OBE). Petrofac will lead the consortium for the execution of the IPCI project and subject to satisfactory conclusion of the OBE and successful contract conversion, it is contemplated that the IPCI project will move into a second phase, in excess of US$3.5 billion, for a polyethylene plant comprising two streams each producing 400,000 tonnes per annum of product.
The eventual scope for the IPCI petrochemical project will include the engineering, procurement, construction and commissioning of a gas plant, ethane cracker, gas pipelines, polyethylene plants and associated utilities and offsites in the Tengiz and Karabatan areas.
Marwan Chedid, Chief Executive of Petrofac's Engineering, Construction, Operations & Maintenance (ECOM) division, commented: "Alongside our partners, Linde and GS, I believe our consortium has the ability to deliver a high quality project. I am delighted that we are involved in such a strategic project with KLPE which represents another significant milestone for us in our relationship with the Kazakh market."
Petrofac's ECOM division has been active in Kazakhstan for almost a decade and has successfully delivered a number of projects in the country. Separately, in July Petrofac 's Integrated Energy Services business signed a Memorandum of Understanding with KazMunaiGas Exploration Production JSC (KMG EP) allowing the parties to explore opportunities to enhance oil production from the mature Emba fields of KMG EP's 100% subsidiary EmbaMunaiGas JSC (EMG).
Ends
For further information contact:
Alison Flynn
Head of Media Relations
Petrofac
Alison.flynn@petrofac.com +44 (0) 20 7811 4913
Tulchan Communications Group Ltd +44 (0) 20 7353 4200
Stephen Malthouse
Martin Robinson
petrofac@tulchangroup.com
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.
This information is provided by RNS
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