Oil services group Petrofac has signed a contract with Salalah LPG SFZCO (SLPG), a fully owned subsidiary of Oman Oil Facilities Development Company (OOFDC), for engineering, procurement and construction services (EPC) at Salalah LPG extraction project.
The contract for the Oman-based Salalah LPG extraction project is valued at nearly $600m.
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Petrofac will advance with the awarded EPC contract after SLPG issues the Notice to Proceed.
Petrofac Group chief operating officer Marwan Chedid said: “This contract is our eleventh in the Sultanate and reinforces our commitment to Oman where we have been present since 1988.
“This project will further support our commitment to increase in-country value. We will continue to maintain strong focus on this aspect of our delivery, particularly by engaging the local supply chain and recruiting local resources.
"We are very much looking forward to growing and strengthening our team working alongside OOFDC to deliver this project.”
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By GlobalDataUnder the three year EPC contract, Petrofac will be constructing the liquefied petroleum gas (LPG) unit along with all associated facilities.
It will also develop tie-ins to the existing pipeline infrastructure, together with LPG storage and jetty facilities located at the Port of Salalah.
The deal forms the first major contract in the last year by Petrofac, reported Telegraph.co.uk.
The signing of this contract increased the share prices of the company by nearly 3% to reach a three month high.
Petrofac continually focuses on different opportunities in the Middle East and will continue to bid for various oil and gas projects in the region.
