Tuesday, Jun 04, 2013
LONDON--Petrofac Ltd. (PFC.LN), an international service provider to the oil and gas production and processing industry, said Tuesday Petrofac Emirates, its joint venture with Mubadala Petroleum, has been awarded a $500 million onshore engineering, procurement and construction contract by Abu Dhabi Company for Onshore Oil Operations for expansion of compression facilities at the Bab Field, 150 km south-west of Abu Dhabi city.
MAIN FACTS:
-Petrofac Emirates will undertake modifications to three of the existing compressor stations and install a new fourth facility.
-Scope of work also includes 27 well head facilities, associated gas pipelines, direct gathering manifold and modifications to remote manifold stations.
-Project will be completed in a phased manner in 30 months whereupon commissioning will start.
-Shares at 0905 GMT up 3 pence, or 0.22%, at 1341 pence valuing the company at 4.62 billion pounds.
-Write to Ian Walker at ian.walker@dowjones.com
(END) Dow Jones Newswires
04-06-13 0911GMT
