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Released February 25, 2014 | JOHANNESBURG
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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--BP plc (NYSE:BP) (London, England) has awarded the $1.2 billion engineering, procurement and construction (EPC) contract for the central processing facility at the Khazzan gas project in Oman to the oil and gas service provider Petrofac (LSE:PFC.L) (St. Helier, Channel Islands).
The contract was awarded on a convertible lump-sum basis and will convert to a full lump-sum contract at a pre-determined point during execution, Petrofac said.
The scope of the work at the central processing facility will cover two process trains, each with a capacity of 525 million standard cubic feet of gas per day. It also will have an associated condensate processing system, a power generation plant, a water treatment system and all associated utilities and infrastructure. The project is scheduled for completion in 2017.
"Petrofac has executed a large number of projects for BP across many aspects of our business, and we are delighted to be supporting them on this pioneering project at Khazzan, the largest new upstream project in Oman," said Subramanian Sarma, managing director of Petrofac's onshore engineering and construction business.
Petrofac has a strong record for project execution in Oman, and the new project represents its eighth EPC contract. In November 2013, it was awarded the $2.1 billion contract for the improvement of the Sohar refinery in a joint venture with Daelim Industrial (KSX:000210.KS) (Seoul, South Korea).
For related information, see September 28, 2012, article - Orpic Lists EPC Firms for $1.2 Billion Sohar Refinery Expansion.
View Project Report - 30004838 300048507 300029877 300030016
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
The contract was awarded on a convertible lump-sum basis and will convert to a full lump-sum contract at a pre-determined point during execution, Petrofac said.
The scope of the work at the central processing facility will cover two process trains, each with a capacity of 525 million standard cubic feet of gas per day. It also will have an associated condensate processing system, a power generation plant, a water treatment system and all associated utilities and infrastructure. The project is scheduled for completion in 2017.
"Petrofac has executed a large number of projects for BP across many aspects of our business, and we are delighted to be supporting them on this pioneering project at Khazzan, the largest new upstream project in Oman," said Subramanian Sarma, managing director of Petrofac's onshore engineering and construction business.
Petrofac has a strong record for project execution in Oman, and the new project represents its eighth EPC contract. In November 2013, it was awarded the $2.1 billion contract for the improvement of the Sohar refinery in a joint venture with Daelim Industrial (KSX:000210.KS) (Seoul, South Korea).
For related information, see September 28, 2012, article - Orpic Lists EPC Firms for $1.2 Billion Sohar Refinery Expansion.
View Project Report - 30004838 300048507 300029877 300030016
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
