Petrofac secures ISG project
Petrofac Limited
28 November 2007
Petrofac Limited
Petrofac secures In Salah Gas Compression Project
Petrofac, the international oil & gas facilities service provider, has been
awarded a US$600 million lump-sum engineering, procurement and construction
contract by In Salah Gas (ISG), an association between Sonatrach (35%), BP (33%)
and Statoil (32%) to develop and market gas from the District 3 region in the
central Sahara area of Algeria.
Petrofac's scope of work includes the design and installation of additional
field compression facilities at each of the three northern fields of REG, TEG
and Krechba, in order to maintain plateau production rates of 9 billion cubic
metres per year beyond 2009.
Scheduled for phased completion during 2009 and 2010, the objective of the
project is to maintain gas production at plateau levels by reducing the pressure
at the wellheads and compressing the gas to the required inlet pressure to the
existing facilities. The facilities at TEG and REG will be almost identical with
two trains of single stage compression at each site, using gas turbines to drive
the compressors. The Krechba facility will consist of a single train of
compression driven by an electric motor with additional power requirements being
met by installing a third gas turbine generator. The project will also include
tie-ins to the existing facilities at all three locations.
Commenting on the award, Maroun Semaan, Chief Executive, Petrofac Engineering &
Construction, said: "The award of the In Salah Gas Compression project is a
major accomplishment and I am delighted that we are now firmly back in the
Algeria market. This is Petrofac's first project in the south western region of
Algeria where significant future work will be undertaken by Sonatrach and its
various foreign partner associations, including the future development by ISG of
the southern In Salah fields."
- 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
In Salah Gas
The In Salah Gas project is based on the development of seven core gas fields,
with three fields, namely Krechba, REG and TEG initially developed and started
production in 2004 (Phase I). It is planned to develop the other four fields
(Gour Mahmoud, In Salah, Hassi Moumene and Garet El Befinat) at a future date.
The project is located approximately 1,200 kilometres south of Algiers in
District 3 region in the central Sahara region of In Salah.
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 16 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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