11th Jun 2015 06:48
LONDON (Alliance News) - Petrofac Ltd Thursday said said it has been awarded an engineering and procurement contract, expected to be worth about USD900 million, by Petroleum Development Oman to provide services for its Yibal Khuff project, a field located approximately 350 kilmetres south west of Muscat in the Sultanate of Oman.
Under the terms of the four-and-a-half year contract Petrofac will be providing reimbursable detailed engineering, and construction and commissioning management support services and procurement on an incentivised pass-through basis. This will extend throughout construction and during start-up of the integrated oil and sour gas facility, it said.
The total contract value is expected to be around USD900 million with around one-quarter of the revenue relating to professional services - engineering, construction and commissioning management.
By Steve McGrath; [email protected]; @stevemcgrath1
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