REG-Petrofac Limited Petrofac Limited: Petrofac secures Lithuanian refinery EPC project

PetrofacAnnouncement

27/10/2021 16:25

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   Petrofac Limited ( PFC)
   Petrofac Limited: Petrofac secures Lithuanian refinery EPC project

   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.

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                                 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

    1 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
    2 www.petrofac.com   

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   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

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References

   Visible links
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