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Petrofac awarded $580 million EPC contract

Petrofac signed a binding letter of intent, for a contract worth around $580 million.


London, 20 March - Neftegaz.RU. Petrofac announced that it has signed a binding letter of intent, for a contract worth around $580 million with a GCC National Oil Company for the engineering, procurement and construction (EPC) of a major project.

 

GCC stands for Gulf Cooperation Council, a political and economic alliance of 6 Middle East countries - Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman.

 

E. S. Sathyanarayanan, Group Managing Director, Engineering & Construction, commented: «Petrofac has a very strong record of project execution in the GCC. This latest contract award further cements our footprint in our core markets, and we look forward to delivering a safe and successful project.»

 

Specific details in relation to the project remain confidential at this time and additional information will be announced in due course.

 

Source : Neftegaz.RU