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Petrofac awarded $1.3bn Kuwait contract

28 March 2017 13:42

Petrofac has been awarded a contract for Kuwait Oil Company's (KOC) gathering centre project, GC 32, located in the Burgan oil field, south east of Kuwait.

The lump-sum engineering, procurement and construction (EPC) project, valued at approximately $1.3bn, is the first sour gathering centre to be developed in the field and will process crude oil and associated gas recovered from the Arifjan, Marat, Minagish Oolite and Burgan Wara high Hydrogen Sulphide fields.

Work will begin shortly and is scheduled to be completed in mid 2020. The scope of work for GC 32 includes greenfield activities with tie-in works to existing brownfield infrastructure, and will have the capacity to produce around 120k barrels of oil per day together with associated water, gas and condensate.

Marwan Chedid, Group Chief Operating Officer, said: "Kuwait is one of our core markets in the Middle East and we have been executing projects in the country since the early 1980's. We are proud to continue our association with KOC and look forward to working closely with them to deliver the project."

At 1:42pm: (LON:PFC) Petrofac Ltd share price was +20.75p at 919.75p

Story provided by StockMarketWire.com

Related Company: PFC

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