DUBAI
Petrofac has secured a long-term agreement with Petroleum Development Oman (PDO) for the provision of Engineering, Procurement and Construction Management (EP+Cm) Support Services for major oil and gas projects, the company said in a statement on Thursday.
The Framework Agreement (FA) is set to last for ten years, with an additional five-year option.
London-based Petrofac will build upon an existing three-year programme of EP+Cm support, undertaken on behalf of PDO. According to the statement, future projects undertaken through the FA will be supported by Petrofac’s Muscat office for technical delivery, and to ensure sustainable in-country value is generated.
Craig Muir, Group Managing Director, Engineering and Production Services, Petrofac said in a statement: “This is a landmark agreement between our two companies and marks a new level of collaboration between PDO and Petrofac. Our priority will be to deliver quality oil and gas facilities that are technically robust, with an absolute focus on safety and in-country value.”
Petrofac is currently undertaking two projects, on behalf of PDO, the sultanate’s state-owned oil prodcier, through an EP+Cm delivery model.
This includes the $1.2 billion award in March 2014 for the Rabab Harweel Integrated Project (RHIP), and the $900 million award in June 2015 for the Yibal Khuff project.
Raoul Restucci, Managing Director, PDO said in a statement: “This long-term agreement with Petrofac reflects our continuing commitment to the safe and responsible development of hydrocarbons in the Sultanate and to drive maximum in-country value from our operations.
