Petrofac Regulatory News (PFC)

20 Mar 2008 07:41

Petrofac Limited20 March 2008 PETROFAC LIMITED PETROFAC AWARDED JIHAR GAS PLANT PROJECT IN SYRIA Petrofac, the international oil & gas facilities service provider, has receiveda letter of intent for the award of a Euros €291 million (US$454 million)lump-sum contract by the Hayan Petroleum Company in Syria to construct a gastreatment plant. The plant will be built on the Jihar field in the Hayan Block, located near tothe town of Palmyra, which consists of the gas/condensate/oil fields for Jihar,Al Mahr & Jazal. Petrofac's comprehensive scope of work will cover engineering,procurement and construction, pre-commissioning and commissioning, and start-upof the gas processing facilities. In addition to the plant, Petrofac will buildan LPG recovery system, LPG storage and loading facility, gas gathering andcollection systems, satellite gathering station, well sites, flow lines,utilities and offsite facilities, gathering pipelines and living quarters. Theproject is due to be completed first quarter 2011. The Hayan Petroleum Company (HPC) is a joint stock company owned equally betweenSyrian Petroleum Company (a Syrian Government company) and INA Industrija Nafted.d.-Naftaplin (a part of INA d.d., a Croatian company) that has some ten yearsof experience in Syria's oil industry. Commenting on the award, Maroun Semaan, Chief Executive, Petrofac Engineering &Construction, said: "This development capitalises on our execution capability inSyria where we have successfully completed several EPC projects. We are pleasedto be back in this market." - Ends - For further information, please contact: Petrofac Limited +44 (0) 20 7811 4900 Ayman Asfari, Group Chief ExecutiveKeith Roberts, Chief Financial OfficerJonathan Low, Head of Investor Relations Bell Pottinger Corporate & Financial +44 (0) 20 7861 3232 Ann-marie WilkinsonOlly Scott Petrofac Petrofac is a leading international provider of facilities solutions to the oil& gas production and processing industry, with a diverse customer portfolioincluding many of the world's leading integrated, independent and national oil &gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC) andis a constituent of the FTSE 250 Index. Through its three divisions, Engineering & Construction, Operations Services andEnergy Developments, Petrofac designs and builds oil & gas facilities; operates,maintains or manages facilities and trains personnel; and, where it can leverageits service capability, develops and co-invests with clients and partners.Petrofac's range of services allows it to help meet its customers' needs acrossthe life cycle of oil & gas assets. With more than 9,500 employees, Petrofac operates out of four strategicallylocated international centres, in Aberdeen, Sharjah, Woking and Mumbai and afurther 20 offices worldwide. The predominant focus of Petrofac's business is onthe UK Continental Shelf (UKCS), Africa, the Middle East, the Commonwealth ofIndependent States (CIS) and the Asia Pacific region. For additional information, please refer to the Petrofac website atwww.petrofac.com. This information is provided by RNS The company news service from the London Stock Exchange