| Petrofac Limited ( PFC) Press Release
8 MARCH 2024
PETROFAC EXTENDS TURKMENGAS RELATIONSHIP WITH GALKYNYSH GAS FIELD OPERATIONS SUPPORT CONTRACT
Petrofac, a leading provider of services to the global energy industry, has been awarded an operations contract from Turkemengas at the Galkynysh Gas Field, in Turkmenistan.
The three-year contract, valued at over US$200 million includes: provision of personnel to supervise and support operations and maintenance activity; the provision of technical support and procurement services; and the development and implementation of management systems to support efficient operations of the Galkynysh Gas Field Central Processing Facilities 1 and 1A. No performance guarantees are required to be posted in relation to this contract.
Delivery of the Galkynysh Gas Field project, for state-owned Turkemengas, was one of the largest engineering, procurement, construction and commissioning (EPC) projects delivered by Petrofac’s Engineering & Construction business unit. The contract to develop the world’s second largest gas field was awarded in 2009, and completed in 2013.
Located near Yoloten (Mary Province, Turkmenistan), the facilities Petrofac will now support, have an equal capacity of 10 BCMA which delivers 20 BCMA to the export pipeline. The gas field ensures revenue for Turkmenistan’s economy, as well as domestic energy supply.
Chief Operating Officer of Petrofac’s Asset Solutions business, Nick Shorten said:
“Petrofac has a proud history of working with Turkemengas. The expansion of our relationship is testament to our track record of delivering value to customers’ operations. Securing this contract further demonstrates our strategy to expand Asset Solutions’ geographic reach.
“We look forward to continued collaboration with Turkemengas, enhancing safe and reliable operations.”
ENDS
For further information contact:
Petrofac: James Boothroyd, Head of Investor Relations
Sophie Reid, Group Head of Communications
Teneo (for Petrofac): +44 (0) 207 353 4200
NOTES TO EDITORS 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 8,500 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 www.petrofac.com
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| ISIN: | GB00B0H2K534 |
| Category Code: | CNT |
| TIDM: | PFC |
| LEI Code: | 2138004624W8CKCSJ177 |
| Sequence No.: | 308400 |
| EQS News ID: | 1854183 |
| End of Announcement | EQS News Service |
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UK Regulatory announcement transmitted by EQS Group AG. The issuer is solely responsible for the content of this announcement.