Oilfield company Petrofac wins $900 mln Oman contract

Petrofac signs about $900 mln engineering and procurement contract in Oman

Oilfield company Petrofac wins $900 mln Oman contract

World Bulletin / News Desk 

Petrofac Ltd said it won an about $900 million contract from state-controlled Petroleum Development Oman (PDO) to provide services at a field south west of Muscat.

Petrofac is a provider of oilfield services to the international oil and gas industry. It is registered in Jersey with its main corporate office on Jermyn Street, London

The company said it would provide engineering and procurement services at PDO's Yibal Khuff project under the four-year contract.

Oil and gas majors, hit by a oil price rout, have slashed capital spending and are holding back on new projects, hurting the prospects of services companies.

However, national oil companies (NOCs) in the Middle East and North Africa show no signs of cutting investment, a boost for companies including Petrofac, which has a large exposure in the Middle East.

PDO, Oman's top oil and gas producer, is 60 percent owned by the government, 34 percent by Royal Dutch Shell, 4 percent by Total and 2 percent by Portugal's Partex, according to its website.

Petrofac's shares were up 1.6 percent at 910.5 pence at 0707 GMT on the London Stock Exchange on Thursday.

Güncelleme Tarihi: 11 Haziran 2015, 12:21