Petrofac wins $1.2bn Oman BP contract
Muscat, February 22, 2014
Leading oil and gas service provider Petrofac has clinched a key engineering, procurement and construction (EPC) contract worth $1.2 billion from BP for its central processing facility at the Khazzan gas project in Oman.
The contract has been awarded on a convertible lump sum basis and will convert to a full lump sum contract at a pre-determined point during execution, said a statement from Petrofac.
The scope of work at the central processing facility will also include two process trains, each having a capacity of 525 million standard cubic feet of gas per day.
The project will also boast of an associated condensate processing system, power generation plant, water treatment system and all associated utilities and infrastructure. The project is expected to be completed in 2017.
Subramanian Sarma, the managing director of Petrofac's Onshore Engineering & Construction business, said: "Petrofac has executed a large number of projects for BP across many aspects of our business and we are delighted to be supporting them on this pioneering project at Khazzan, the largest new upstream project in Oman."
"We have a very strong record for project execution in Oman with this project representing Petrofac’s eighth EPC contract in the Sultanate and follows the recent award of the $2.1 billion Sohar refinery improvement project which was announced in November," he added.-TradeArabia News Service