Petrofac Limited Petrofac awarded US$1.3 billion project in Kuwait (7561A)

TIDMPFC

RNS Number : 7561A

Petrofac Limited

28 March 2017

Press Release

28 March 2017

PETROFAC AWARDED US$1.3 BILLION PROJECT IN KUWAIT

Petrofac has been awarded a contract for Kuwait Oil Company's (KOC) gathering centre project, GC 32, located in the Burgan oil field, south east of Kuwait.

The lump-sum engineering, procurement and construction (EPC) project, valued at approximately US$1.3 billion, is the first sour gathering centre to be developed in the field and will process crude oil and associated gas recovered from the Arifjan, Marat, Minagish Oolite and Burgan Wara high Hydrogen Sulphide fields.

Work will begin shortly and is scheduled to be completed in mid 2020. The scope of work for GC 32 includes greenfield activities with tie-in works to existing brownfield infrastructure, and will have the capacity to produce around 120,000 barrels of oil per day together with associated water, gas and condensate.

Marwan Chedid, Group Chief Operating Officer, said: "Kuwait is one of our core markets in the Middle East and we have been executing projects in the country since the early 1980's. We are proud to continue our association with KOC and look forward to working closely with them to deliver the 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.

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 around 13,500 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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March 28, 2017 06:38 ET (10:38 GMT)