Petrofac awarded onshore contracts in Abu Dhabi

4th Jun 2013 10:28

FTSE 100-listed international service provider Petrofac has reported that Petrofac Emirates, its joint venture with Mubadala Petroleum, has been awarded an onshore engineering, procurement and construction (EPC) contract by Abu Dhabi Company for Onshore Oil Operations (ADCO) for the development of the Bab Habshan-1 project. The group said that the contract had been awarded following a competitive tender and was valued at $187m. The project has an anticipated duration of 20 months and included the provision of water injection clusters, oil production wells, water injection wells and associated electrical and instrumentation facilities.In addition, Petrofac Emirates had been awarded a $500m onshore engineering, procurement and construction contract by ADCO for expansion of compression facilities at the Bab Field, 150 km south-west of Abu Dhabi city.The joint venture would undertake modifications to three of the existing compressor stations and install a new fourth facility. The scope of work also included 27 well head facilities, associated gas pipelines, direct gathering manifold and modifications to remote manifold stations. The project would be completed in a phased manner in approximately 30 months whereupon commissioning will commence. Subramanian Sarma, Managing Director of Petrofac's Onshore Engineering & Construction, business commented: "Following an extremely competitive bidding field, I am delighted that we have been able to secure this project. To extend our portfolio with ADCO, who are a very important customer for us, is particularly pleasing and continues to reinforce our position in the Middle East." Petrofac's share price was up 0.97% to 1,350p at 11:30 on Tuesday.MF