Petrofac wins $500m contract with Malaysia's Petronas

13th Aug 2014 08:27

Oil and gas services group Petrofac has won a contract with Malaysia's state-owned energy company Petronas worth over $500m.The UK-listed firm will provide engineering, procurement, construction and commissioning (EPCC) services for a refinery package in Petronas' Refinery and Petrochemicals Integrated Development (RAPID) project in Pengerang in the state of Johor.The EPCC work includes three sulphur recovery units, two amine regeneration units, two sour water stripping units, a liquid sulphur storage units and a sulphur solidification package unit.RAPID is the largest liquid-based greenfield downstream project in Malaysia, with a 300,000 barrels-a-day refinery. It is part of Petronas' largest Pengerang Integrated Complex (PIC) development, which is scheduled for a refinery start-up by early 2019.Subramanian Sarma, the managing director of Petrofac's Onshore Engineering & Construction business, said the contract is "another significant step in building our capability in the Asia-Pacific region". Sarma said: "Malaysia is a core country for us, PETRONAS a key customer and we have a substantial physical presence in the country to support our ongoing projects and future aspirations."The stock was up 0.8% at 1,101p by 08:27 on Wednesday.BC