Petrofac Limited: Petrofac led JV selected for USUSD1.5 billion EPC project in Algeria (1635943)
2023年5月18日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
Petrofac Limited ( PFC) Petrofac Limited: Petrofac led JV
selected for USUSD1.5 billion EPC project in Algeria 18-May-2023 /
07:00 GMT/BST
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Press Release
18 MAY 2023
PETROFAC LED JV SELECTED FOR USUSD1.5 BILLION EPC PROJECT IN
ALGERIA
-- A Petrofac-led joint venture has been notified of a
conditional award by STEP Polymers SPA (100%Sonatrach subsidiary)
for a petrochemical engineering, procurement and construction (EPC)
contract valued atapproximately USUSD1.5 billion
-- This is a significant downstream project, which will form
part of the Arzew Industrial Zone, located westof Algiers,
supporting Algeria's energy strategy
-- The award broadens Petrofac's portfolio within the
petrochemical sector and builds on its 25-year trackrecord in
Algeria
Petrofac, leading a joint venture with petrochemical industry
specialist, China Huanqiu Contracting & Engineering Corporation
(HQC), has received notification of a conditional award by STEP
Polymers SPA (100% Sonatrach subsidiary) to execute a significant
petrochemical project in Algeria. The total contract value is
approximately USUSD1.5 billion, with Petrofac's share valued at
over USUSD1 billion.
The plant will be located at the Arzew Industrial Zone, west of
Algiers. Covering the design and build of two major integrated
processing units, the contract includes the delivery of a new
propane dehydrogenation unit and polypropylene production unit, as
well as associated utilities and infrastructure for the site. It is
expected to produce 550,000 tons of polypropylene per year.
Tareq Kawash, Petrofac's Group Chief Executive, said: "We are
proud to be supporting our customer to deliver this strategic
project. Algeria is a core market for Petrofac and we are committed
to supporting the long-term delivery of critical infrastructure as
the country plays an increasingly important role as a major energy
producer and moves into major petrochemical projects."
Elie Lahoud, Chief Operating Officer for Petrofac's Engineering
& Construction division, said: "The award of this major project
builds on Petrofac's 25-year track record of successfully
supporting Algeria's energy industry. As our client responds to the
world's increasing demand for petrochemical products, we are
looking forward to developing our breadth of experience in-country,
through the safe and timely delivery of this project."
Petrofac has been active in Algeria since 1997, when it opened
its first office in Algiers. The company has since developed some
of the country's most significant oil and gas assets, with an
impressive track record in executing projects successfully,
underpinned by a commitment to supporting the nationalisation
agenda and developing local workforces.
This contract award forms part of the USUSD1.5 billion of
opportunities described by Petrofac as being at preferred bidder
stage in its December trading update. Ends
For further information contact:
Petrofac:
James Boothroyd, Head of Investor Relations
James.boothroyd@petrofac.com
Sophie Reid, Group Head of Communications
Sophie.reid@petrofac.com
Teneo (for Petrofac):
Martin Robinson
+44 (0) 207 353 4200
petrofac@teneo.com
NOTES TO EDITORS
About 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
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ISIN: GB00B0H2K534
Category Code: CNT
TIDM: PFC
LEI Code: 2138004624W8CKCSJ177
Sequence No.: 244495
EQS News ID: 1635943
End of Announcement EQS News Service
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