Petrofac Limited Petrofac awarded Oman gas project (6299T)

TIDMPFC

RNS Number : 6299T

Petrofac Limited

09 January 2017

Press Release

09 January 2017

PETROFAC AWARDED OMAN GAS PROJECT

Petrofac has signed a contract worth close to US$600 million with Salalah LPG SFZCO LLC (SLPG), wholly owned subsidiary of Oman Oil Facilities Development Company LLC (OOFDC), to undertake the engineering, procurement and construction (EPC) of its Salalah LPG extraction project in the southern part of Oman.

Under the terms of the 36-month lump sum EPC contract, which will be triggered when SLPG issue to Petrofac the Notice To Proceed (NTP), Petrofac's scope of work will include construction of the liquefied petroleum gas (LPG) unit and associated facilities, including tie-ins to existing pipeline infrastructure, together with LPG storage and jetty facilities at the Port of Salalah.

Marwan Chedid, Petrofac Group Chief Operating Officer, commented: "This contract is our eleventh in the Sultanate and reinforces our commitment to Oman where we have been present since 1988.

"This project will further support our commitment to increase in-country value. We will continue to maintain strong focus on this aspect of our delivery, particularly by engaging the local supply chain and recruiting local resources. We are very much looking forward to growing and strengthening our team working alongside OOFDC to deliver this project."

Ends

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016. Petrofac received a non-binding letter notifying intention to award the contract in December 2016 and the current intention is to include this award in 2016 year-end backlog.

For further information, contact:

Petrofac Limited [phone]

Jonathan Low, Head of Investor Relations

Jonathan Edwards, Investor Relations Manager

   Alison Flynn, Group Head of Communications                                  [phone] 

Tulchan Communications Group LLP [phone]

Martin Robinson

Stephen Malthouse

[e-mail]

NOTES TO EDITORS

Petrofac

Petrofac is a leading international service provider 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. 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 clients' needs across the full life cycle of oil and gas assets.

With approximately 14,000 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

The company news service from the London Stock Exchange

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January 09, 2017 02:00 ET (07:00 GMT)