LONDON--International oil and gas services provider Petrofac
Ltd. (PFC.LN) said Monday it signed a $120 million agreement with
Petronas, the Malaysian National Oil Company, for the operation and
management of two high-specification training facilities.
MAIN FACTS:
-Petrofac is currently constructing two upstream plant training
facilities, and a downstream facility, which will supplement
existing facilities at the Institut Teknologi Petroleum Petronas
training academy.
-Under 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 an option to extend for a further two
years.
-The agreement follows an earlier MoU
-Shares closed Friday at 1,390 pence valuing the company at
GBP4.81 billion.
-Write to Ed Ballard at ed.ballard@wsj.com
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