UK Markets closed

Petrofac Limited: Petrofac secures Lithuanian refinery EPC project

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Petrofac Limited ( PFC)
27-Oct-2021 / 16:24 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

Press Release

 

 

27 October 2021

 

 

PETROFAC SECURES LITHUANIAN REFINERY EPC PROJECT

 

Petrofac announces it has been awarded an Engineering, Procurement and Construction (EPC) contract, valued at around EUR550 million (approx US$640 million), from PC ORLEN Lietuva to support a comprehensive modernisation, environmental upgrade, and expansion programme at its Mažeikiai Refinery in North-West Lithuania.

 

The lump sum contract comprises engineering, procurement, construction, start-up and commissioning services, as ORLEN Lietuva invests to expand the existing refinery complex, raise capabilities, meet the requirements for cleaner fuels and improve operational and carbon efficiency of the plant. The scope of work encompasses mainly greenfield EPC development, with some brownfield modifications, as well as Front End Engineering Design (FEED) of relevant utilities and offsites. The contract includes the addition of a new residue hydrocracking facility and improvement of the existing facility. Project completion is planned by the end of 2024.

 

Elie Lahoud, Chief Operating Officer - Engineering & Construction, said: "We are delighted to have secured such an important refinery project within the European Union as we demonstrate our growth strategy in new geographies. Petrofac has a well-established track record and significant experience in the refining sector, as customers transform existing facilities to produce higher quality, more environmentally friendly fuels. ORLEN Lietuva is a new customer for us, and we look forward to developing our relationship as we deliver locally, to the highest global standards, on a project that is an important part of Lithuania's energy infrastructure."

 

PC ORLEN Lietuva is an ORLEN Group company, operating the sole refinery in the Baltic region. The Mažeikiai refinery is important to the Polish and Lithuanian economies. It is one of Lithuania's largest companies, with about 1,500 employees, of whom approximately 90% are residents of Mažeikiai and neighbouring towns. Another 4,500 people are employees of external service providers and subcontractors.

 

Ends.

 

 

For further information contact:

 

 

Petrofac Limited 

+44 (0) 207 811 4900

 

Jonathan Yarr, Head of Investor Relations

jonathan.yarr@petrofac.com

 

 

Tulchan Communications Group

+44 (0) 207 353 4200

petrofac@tulchangroup.com

 

Martin Robinson

 

 

NOTES TO EDITORS

Petrofac

 

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 8,500 employees based across 31 offices globally.

 

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

 

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


ISIN:

GB00B0H2K534

Category Code:

CNT

TIDM:

PFC

LEI Code:

2138004624W8CKCSJ177

OAM Categories:

3.1. Additional regulated information required to be disclosed under the laws of a Member State

Sequence No.:

125374

EQS News ID:

1244118


 

End of Announcement

EQS News Service

show this
show this
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting