16th Sep 2013 06:32
LONDON (Alliance News) - International oil and gas services provider Petrofac(POFCF.PK, POFCY.PK, PFC.L), Monday signed an agreement with Malaysian National Oil Company, PETRONAS, valued at $120 million, for the operation and management of two high-specification training facilities that Petrofac is building to support PETRONAS' workforce capability enhancement programme. The agreement comes after an an earlier Memorandum of Understanding between Petrofac and PETRONAS.
Petrofac is now constructing two 'live' upstream plant training facilities, and a 'live' downstream facility, which will supplement existing facilities at the Institut Teknologi Petroleum Petronas training academy.
Pursuant to the latest phase of the agreement, Petrofac will undertake the ongoing management and operation of the two upstream facilities, which are capable of training 500 delegates each year, for the next five years with extenable option for further two years.
Copyright RTT News/dpa-AFX
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