LONDON– UAE-based Petrofac, a leading service provider to the oil and gas production and processing industry, today announced that it has signed a binding letter of intent, for a contract worth around US$580 million (around AED 2.13 billion) with a GCC National Oil Company for the engineering, procurement and construction, EPC, of a major project.
Specific details in relation to the project remain confidential at this time and additional information will be announced in due course, a company statement said. E S Sathyanarayanan, the company’s Group Managing Director, Engineering and Construction, said, "Petrofac has a very strong record of project execution in the GCC. This latest contract award further cements our footprint in our core markets, and we look forward to delivering a safe and successful project."
Registered in the British Channel Island of Jersey, Petrofac is listed on the London Stock Exchange. Established in Sharjah since 1991, the company has carried out several major projects in the UAE and is currently working on a US$2.9 billion contract for the development of ADNOC Offshore’s Upper Zakum field.
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