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Petrofac Ltd's Joint Venture Secures Contract


Thursday, 11 Apr 2013 05:32am EDT 

Petrofac Ltd announced that Petrofac Emirates, its Joint Venture with Mubadala Petroleum, has been awarded a contract by Zakum Development Company (ZADCO) for the Upper Zakum, UZ750 field development in Abu Dhabi. The contract is worth approximately USD3.7 billion and has been secured by Petrofac Emirates in consortium with Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME). Petrofac Emirates' share of the contract is valued at USD2.9 billion. The project comprises engineering, procurement, construction transportation and commissioning of island surface facilities (EPC-2) on four artificial islands. Specifically, this will include wellhead control, manifolds, crude oil process facilities, water injection and gas lift, oil export pumps, power generation and associated utilities. These facilities will commence operations during 2016. 

Company Quote

1197.0
-13.0 -1.07%
23 Jul 2014