REG-Petrofac Limited Petrofac Limited: PETROFAC CONSORTIUM AWARDED EPC PROJECT IN ALGERIA

PetrofacAnnouncement

04/08/2022 07:15

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   Petrofac Limited ( PFC)
   Petrofac Limited: PETROFAC CONSORTIUM AWARDED EPC PROJECT IN ALGERIA

   04-Aug-2022 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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                                 Press Release

    

   4 August 2022

    

               PETROFAC CONSORTIUM AWARDED EPC PROJECT IN ALGERIA

    

   Petrofac, leading a consortium with Genie Civil et Batiment (GCB), has
   received notification of a provisional award for an engineering,
   procurement and construction contract with Sonatrach for the Tinrhert EPC2
   Development Project in Algeria. The contract is valued at approximately
   US$300 million, with Petrofac’s share around US$200 million.

   Located in Alrar, around 1,500 kilometres southeast of Algiers, EPC2 will
   provide a new Central Processing Facility (CPF) with inlet separation and
   decarbonisation units. The scope of work also includes tie ins to the
   existing Alrar Separation and Boosting Facilities, which Petrofac
   originally helped deliver in 2018, along with commissioning, start-up and
   performance testing. When completed, the development will boost natural
   gas production and remove CO2 from the field’s gas reserves, within
   specifications for the global market, enabling further economic growth
   in-country.

   Elie Lahoud, Chief Operating Officer for Petrofac’s Engineering &
   Construction division said: “The Petrofac and GCB consortium is testament
   to our focus on local delivery, through investment in local supply chains
   and work forces. We are very pleased to have been notified of this
   provisional award by Sonatrach, which reflects their confidence in our
   ability to drive in-country value, whilst safely delivering strategically
   significant energy infrastructure.”

   Petrofac has decades of experience in Algeria with a strong track record
   of safe execution. In 2018 the Company was awarded a contract with
   Sonatrach for Tinrhert EPC1, which, includes delivery of a new inlet
   separation and compression centre, successfully extending the existing
   Ohanet CPF. This project recently achieved a major milestone with the safe
   introduction of the first hydrocarbons for the start-up of production.

    

   Ends

    

    

    

   For further information contact:

    

   Petrofac Limited 

   +44 (0) 207 811 4900

    

   Jonathan Yarr, Head of Investor Relations

    1 jonathan.yarr@petrofac.com

    

   Sophie Reid, Group Head of Communications

   Sophie.reid@petrofac.com

    

    

   Tulchan Communications Group

   +44 (0) 207 353 4200

   petrofac@tulchangroup.com

    

   Martin Robinson

    

    

    

   NOTES TO EDITORS

   Petrofac’s presence in Algeria

   Petrofac has been active in Algeria since 1997, when its first offices
   were opened in Algiers. The company has since developed many of the
   country’s most significant oil and gas assets, with an impressive track
   record in executing projects successfully, underpinned by a commitment to
   supporting the nationalisation agenda and developing local workforces.

   Petrofac has undertaken 14 projects in-country including ongoing
   assignments. In 2018 Petrofac was awarded an engineering, procurement and
   construction (EPC) contract with Sonatrach for the Tinrhert Field
   Development Project (EPC1). This was followed in March 2019 by a contract
   for the Ain Tsila Development Project. Trainees have been recruited
   locally to support these latest key projects, with criteria that all are
   resident in the Ouargla or Illizi Wilaya regions.

   Petrofac globally

    

   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 8,200  employees
   based across 31 offices globally.

    

   Petrofac is quoted on the London Stock Exchange (symbol: PFC).  

    

   This provisional award notification was published in BAOSEM on Wednesday 3
   August 2022.

    

   For additional information, please refer to the Petrofac website at
    2 www.petrofac.com   

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   ISIN:          GB00B0H2K534
   Category Code: MSCM
   TIDM:          PFC
   LEI Code:      2138004624W8CKCSJ177
   Sequence No.:  179159
   EQS News ID:   1412969


    
   End of Announcement EQS News Service

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References

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