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Petrofac Limited: PETROFAC CONSORTIUM AWARDED EPC PROJECT IN ALGERIA

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Petrofac Limited ( PFC)
Petrofac Limited: PETROFAC CONSORTIUM AWARDED EPC PROJECT IN ALGERIA
04-Aug-2022 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

Press Release

 

4 August 2022

 

PETROFAC CONSORTIUM AWARDED EPC PROJECT IN ALGERIA

 

Petrofac, leading a consortium with Genie Civil et Batiment (GCB), has received notification of a provisional award for an engineering, procurement and construction contract with Sonatrach for the Tinrhert EPC2 Development Project in Algeria. The contract is valued at approximately US$300 million, with Petrofac’s share around US$200 million.

Located in Alrar, around 1,500 kilometres southeast of Algiers, EPC2 will provide a new Central Processing Facility (CPF) with inlet separation and decarbonisation units. The scope of work also includes tie ins to the existing Alrar Separation and Boosting Facilities, which Petrofac originally helped deliver in 2018, along with commissioning, start-up and performance testing. When completed, the development will boost natural gas production and remove CO2 from the field’s gas reserves, within specifications for the global market, enabling further economic growth in-country.

Elie Lahoud, Chief Operating Officer for Petrofac’s Engineering & Construction division said: “The Petrofac and GCB consortium is testament to our focus on local delivery, through investment in local supply chains and work forces. We are very pleased to have been notified of this provisional award by Sonatrach, which reflects their confidence in our ability to drive in-country value, whilst safely delivering strategically significant energy infrastructure.”

Petrofac has decades of experience in Algeria with a strong track record of safe execution. In 2018 the Company was awarded a contract with Sonatrach for Tinrhert EPC1, which, includes delivery of a new inlet separation and compression centre, successfully extending the existing Ohanet CPF. This project recently achieved a major milestone with the safe introduction of the first hydrocarbons for the start-up of production.

 

Ends

 

 

 

For further information contact:

 

Petrofac Limited 

+44 (0) 207 811 4900

 

Jonathan Yarr, Head of Investor Relations

jonathan.yarr@petrofac.com

 

Sophie Reid, Group Head of Communications

Sophie.reid@petrofac.com

 

 

Tulchan Communications Group

+44 (0) 207 353 4200

petrofac@tulchangroup.com

 

Martin Robinson

 

 

 

NOTES TO EDITORS

Petrofac’s presence in Algeria

Petrofac has been active in Algeria since 1997, when its first offices were opened in Algiers. The company has since developed many of the country’s most significant oil and gas assets, with an impressive track record in executing projects successfully, underpinned by a commitment to supporting the nationalisation agenda and developing local workforces.

Petrofac has undertaken 14 projects in-country including ongoing assignments. In 2018 Petrofac was awarded an engineering, procurement and construction (EPC) contract with Sonatrach for the Tinrhert Field Development Project (EPC1). This was followed in March 2019 by a contract for the Ain Tsila Development Project. Trainees have been recruited locally to support these latest key projects, with criteria that all are resident in the Ouargla or Illizi Wilaya regions.

Petrofac globally

 

Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world’s leading energy companies.

 

Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world’s evolving energy needs. Our four values – driven, agile, respectful and open – are at the heart of everything we do.

 

Petrofac’s core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, South East Asia and the United States. We have around 8,200 employees based across 31 offices globally.

 

Petrofac is quoted on the London Stock Exchange (symbol: PFC).  

 

This provisional award notification was published in BAOSEM on Wednesday 3 August 2022.

 

For additional information, please refer to the Petrofac website at www.petrofac.com   


ISIN:

GB00B0H2K534

Category Code:

MSCM

TIDM:

PFC

LEI Code:

2138004624W8CKCSJ177

Sequence No.:

179159

EQS News ID:

1412969


 

End of Announcement

EQS News Service

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