Petrofac Limited: Petrofac confirms signing of USUSD1.5 billion EPC contract in Algeria (1653957)
June 12 2023 - 1:00AM
UK Regulatory
Petrofac Limited ( PFC) Petrofac Limited: Petrofac confirms
signing of USUSD1.5 billion EPC contract in Algeria 12-Jun-2023 /
07:00 GMT/BST
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Press Release
12 JUNE 2023
Petrofac confirms signing of USUSD1.5 billion EPC contract in
Algeria
Further to the announcement of 18 May 2023, Petrofac today
confirms it has entered into a definitive agreement with STEP
Polymers SPA ('STEP', a 100% subsidiary of Sonatrach) for the
design and build of its petrochemical complex in the Arzew
Industrial Zone in Algeria. As previously announced, Petrofac will
deliver the USUSD1.5 billion project with its joint venture partner
China Huanqiu Contracting & Engineering Corporation (HQC), with
Petrofac's share valued at over USUSD1 billion. The contract was
signed at an official ceremony in Algiers by representatives of
Petrofac, HQC and STEP.
Tareq Kawash, Petrofac's Group Chief Executive, said: "I am
delighted to be in Algiers alongside our partner and client to mark
the official award of this pioneering project. Broadening
Petrofac's portfolio within the petrochemical sector, this contract
builds on our 25-year track record of safely delivering
strategically significant energy infrastructure in Algeria, while
developing local workforces." 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.: 249992
EQS News ID: 1653957
End of Announcement EQS News Service
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