Petrofac Limited: ADNOC AWARDS PETROFAC US$700 MILLION EPC PROJECT

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Petrofac, a leading international service provider to the energy industry, has been selected by the Abu Dhabi National Oil Company (ADNOC) subsidiary, ADNOC Gas Processing, to undertake a significant new Engineering, Procurement and Construction project at its Habshan Complex.

Metadata

Provider:

EQS

Retrieved on:

Friday, June 30, 2023

Information

Tags:

ADNOC Gas Processing, Abu Dhabi National Oil Company, Construction, Engineering, procurement, and construction, EPC, ADNOC, Engineering, Emiratisation

Geotags:

GROSSBRITANNIEN, UAE

Stock Symbol:

ISIN:GB00B0H2K534

LSE:PFC

Summary

Key Points:

Petrofac, a leading international service provider to the energy industry, has been selected by the Abu Dhabi National Oil Company (ADNOC) subsidiary, ADNOC Gas Processing, to undertake a significant new Engineering, Procurement and Construction project at its Habshan Complex.
The contract, awarded to Petrofac Emirates, is valued at approximately US$700 million and involves the Engineering, Procurement and Construction of a new gas compressor plant.
Tareq Kawash, Petrofac's Group Chief Executive, said: “We are thrilled to have been selected by ADNOC, one of Petrofac’s longest-standing customers, to undertake this significant new EPC project in our home market of the UAE.
With a commitment to deliver In-Country Value, Emiratisation is a key business priority and Petrofac is actively promoting current career opportunities.

Petrofac Limited ( PFC)

Petrofac Limited: ADNOC AWARDS PETROFAC US$700 MILLION EPC PROJECT

30-Jun-2023 / 07:00 GMT/BST

30 June 2023

ADNOC AWARDS PETROFAC
US$700 MILLION EPC PROJECT

Petrofac, a leading international service provider to the energy industry, has been selected by the Abu Dhabi National Oil Company (ADNOC) subsidiary, ADNOC Gas Processing, to undertake a significant new Engineering, Procurement and Construction project at its Habshan Complex.

The contract, awarded to Petrofac Emirates, is valued at approximately US$700 million and involves the Engineering, Procurement and Construction of a new gas compressor plant. Comprising three gas compressor trains, associated utilities and power systems, the new plant will support ADNOC to substantially increase gas output from the Habshan Complex, West of Abu Dhabi.

Tareq Kawash, Petrofac's Group Chief Executive, said: “We are thrilled to have been selected by ADNOC, one of Petrofac’s longest-standing customers, to undertake this significant new EPC project in our home market of the UAE. We very much look forward to working together with ADNOC to safely and sustainably develop this critical energy resource.”

Elie Lahoud, Chief Operating Officer, Petrofac Engineering & Construction commented: “Petrofac has a long and strong track record supporting ADNOC in the UAE, rooted in our steadfast commitment to maximising local delivery, investing in the local supply chain, and developing local teams. This focus on In-Country Value will once again underpin our approach to delivery for ADNOC on the strategically significant Habshan Complex.”

Petrofac first established a presence in the UAE in 1991 and has developed a large workforce to support both regional and international projects. With a commitment to deliver In-Country Value, Emiratisation is a key business priority and Petrofac is actively promoting current career opportunities.

ENDS

For further information contact:

Petrofac Limited

+44 (0) 20 7811 4900

James Boothroyd, Head of Investor Relations

[email protected]

Sophie Reid, Group Head of Communications

[email protected]

Teneo (for Petrofac)

+44 (0) 20 7353 4200

[email protected]

Martin Robinson

NOTES TO EDITORS

Petrofac

Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world's leading energy companies.

Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world's evolving energy needs. Our four values - driven, agile, respectful and open - are at the heart of everything we do.

Petrofac's core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, South East Asia and the United States. We have 7,950 employees based across 31 offices globally.

Petrofac is quoted on the London Stock Exchange (symbol: PFC).

For additional information, please refer to the Petrofac website at www.petrofac.com

Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group.

The issuer is solely responsible for the content of this announcement.


ISIN:	GB00B0H2K534
Category Code:	MSCH
TIDM:	PFC
LEI Code:	2138004624W8CKCSJ177
OAM Categories:	2.2. Inside information
Sequence No.:	254492
EQS News ID:	1669465


End of Announcement	EQS News Service