Re Contract
Petrofac Limited
05 January 2006
PETROFAC LIMITED
("Petrofac")
PETROFAC SECURES CONTRACTS IN RUSSIA
Petrofac, the international oil and gas facilities provider, announces that is
has won two contracts in connection with the development of the Kovykta gas and
condensate field in East Siberia. The contracts run for three years and total
over $60 million.
The first contract, awarded by RUSIA Petroleum, will see Petrofac provide
project management services for the engineering, procurement and construction of
new 2.5 BCM/year gas production facilities and condensate loading system. Under
the second contract, with East Siberian Gas Company, Petrofac will provide
project management services for the design and construction of the main gas
pipeline which will provide gas to local consumers in the Irkutsk region. The
645 km pipeline will extend from the processing facilities at Kovykta to the
region's capital, Irkutsk, with first gas scheduled to be delivered to consumers
towards the end of 2006. Both RUSIA Petroleum and East Siberian Gas Company are
part-owned by TNK-BP. The total investment being made which is under Petrofac's
project management amounts to approximately $1.1 billion.
Commenting on the project, Maroun Semaan, Chief Executive, Petrofac Engineering
& Construction, said:
"We are delighted to have won these contracts with RUSIA Petroleum and East
Siberia Gas Company. Russia is a key strategic market for Petrofac and this
extends our foothold in the region."
Ends
For further information, please contact:
Petrofac Limited +44 (0) 20 7471 3500
Ayman Asfari, Group Chief Executive
Keith Roberts, Chief Financial Officer
Robin Caiger, Head of Investor Relations
Bell Pottinger Corporate & Financial +44 (0) 20 7861 3232
Ann-Marie Wilkinson
Geoff Callow
Notes to Editors
Petrofac is a leading international provider of facilities solutions to the oil
and gas production and processing industry, with a diverse client portfolio
including many of the world's leading integrated, independent and national oil
and gas companies.
Through its three divisions, Engineering & Construction (E&C), Operations
Services (OS) and Resources, Petrofac designs and builds oil and 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 clients' needs across the life cycle of oil and gas assets.
Petrofac operates out of four strategically placed international centres in
Aberdeen, Scotland; Sharjah, UAE; Mumbai, India; and Woking, England, and has a
further 13 offices worldwide, with approximately 5,500 employees.
Petrofac's business is focused on the UK Continental Shelf (UKCS), the Middle
East, Africa and the Former Soviet Union (FSU). Through both organic growth and
strategic acquisition, Petrofac's engineering, procurement and construction
activities have been complemented with development planning and early stage
engineering services, facilities management and training services and
co-investment.
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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