REG-Petrofac Limited Petrofac Limited: Contract Award

PetrofacAnnouncement

08/03/2024 07:15

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   Petrofac Limited ( PFC)
   Petrofac Limited: Contract Award

   08-March-2024 / 07:00 GMT/BST

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   Press Release

    

    

    

   8 MARCH 2024

    

       PETROFAC EXTENDS TURKMENGAS RELATIONSHIP WITH GALKYNYSH GAS FIELD
                          OPERATIONS SUPPORT CONTRACT

    

   Petrofac, a leading provider  of services to  the global energy  industry,
   has been awarded an operations contract from Turkemengas at the  Galkynysh
   Gas Field, in Turkmenistan.

    

   The three-year contract, valued at over US$200 million includes: provision
   of personnel to supervise and support operations and maintenance activity;
   the provision  of  technical support  and  procurement services;  and  the
   development and implementation of management systems to support  efficient
   operations of the Galkynysh Gas Field Central Processing Facilities 1  and
   1A. No performance  guarantees are required  to be posted  in relation  to
   this contract.

    

   Delivery of the Galkynysh Gas Field project, for state-owned  Turkemengas,
   was  one  of  the  largest  engineering,  procurement,  construction   and
   commissioning  (EPC)  projects  delivered  by  Petrofac’s  Engineering   &
   Construction business unit.  The contract  to develop  the world’s  second
   largest gas field was awarded in 2009, and completed in 2013.

    

   Located  near  Yoloten  (Mary  Province,  Turkmenistan),  the   facilities
   Petrofac will  now  support, have  an  equal  capacity of  10  BCMA  which
   delivers 20 BCMA to the export pipeline. The gas field ensures revenue for
   Turkmenistan’s economy, as well as domestic energy supply.

    

   Chief Operating  Officer  of  Petrofac’s Asset  Solutions  business,  Nick
   Shorten said:

    

   “Petrofac has a proud history  of working with Turkemengas. The  expansion
   of our relationship is testament to  our track record of delivering  value
   to customers’ operations. Securing this contract further demonstrates  our
   strategy to expand Asset Solutions’ geographic reach.

    

   “We look forward  to continued collaboration  with Turkemengas,  enhancing
   safe and reliable operations.”

    

   ENDS

    

   For further information contact:

    

   Petrofac:

   James Boothroyd, Head of Investor Relations

    1 James.boothroyd@petrofac.com

    

   Sophie Reid, Group Head of Communications

    2 Sophie.reid@petrofac.com

    

   Teneo (for Petrofac):

   +44 (0) 207 353 4200

    3 petrofac@teneo.com

    

    

   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 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
    4 www.petrofac.com

    

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          GB00B0H2K534
   Category Code: CNT
   TIDM:          PFC
   LEI Code:      2138004624W8CKCSJ177
   Sequence No.:  308400
   EQS News ID:   1854183


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:James.boothroyd@petrofac.com
   2. mailto:Sophie.reid@petrofac.com
   3. mailto:petrofac@teneo.com
   4. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=9fe21fdf68d48cc06116e9fe9587a1c8&application_id=1854183&site_id=reuters8&application_name=news


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