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Petrofac Ltd - Jersey-based provider of services to the oil and gas industry - Secures USD100 million contract with Zallaf Libya Oil & Gas Exploration & Production Co, to deliver their Erawin field development project phase one early production facilities.
The engineering, procurement, construction and commissioning scope of work includes surface equipment, including well pads and flowlines at the Erawin oil field, located in southwest Libya. It also includes a pipeline to transport crude oil around 100 kilometres to the El Sharara oil field and a control room, substation and telecom system located there.
"Libya is positioning itself to become a major oil and gas producer again and we're looking forward to helping the National Oil Company achieve its goals, develop key infrastructure safely and securely, and increase production. Petrofac has been delivering complex projects, engineering services and training local workforces in North Africa for over 20 years now. This latest award builds on our strength of engineering and construction capability and track record of effective delivery," says Chief Operating Officer Elie Lahoud.
Current stock price: 109.38 pence
Year-to-date change: down 21%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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