Petrofac lands $900m contract

11/06/2015

Oil and gas services provider Petrofac has landed a four-and-a-half year contract with Petroleum Development Oman (PDO) to provide services for its Yibal Khuff project.

The total contract value is expected to be around $900m, with around one-quarter of the revenues relating to professional services.

Craig Muir, the managing director of Petrofac's engineering & consulting services business, said: "This contract ... reinforces our presence in Oman, where we have a number of ongoing projects and a local engineering office, and where this project will further complement our agenda for increasing in country value.

"We will continue to maintain a strong focus on this aspect of our delivery by accessing the local supply chain and recruitment of local resources and we are very much looking forward to growing and strengthening the team working alongside PDO to deliver this project."

Under the agreement, Petrofac will provide reimbursable detailed engineering, and construction and commissioning management support services and procurement on an incentivised pass-through basis. This will extend throughout construction and during start-up of the integrated oil and sour gas facility.