Petrofac Ltd says Kuwait Oil Co had awarded the company a $1.3 billion engineering, procurement and construction contract for the Burgan oil field in south-east Kuwait.
March 28 (Reuters) - British oilfield services company Petrofac Ltd said on Tuesday Kuwait Oil Co had awarded the company a $1.3 billion engineering, procurement and construction contract for the Burgan oil field in south-east Kuwait.
Petrofac's shares rose as much as 2.33 percent.
The company will develop a gathering centre to process crude oil and gas recovered from Arifjan, Marat, Minagish Oolite and Burgan Wara high hydrogen sulphide fields, with work scheduled to be completed by 2020.
Petrofac said in February that it saw an uptick in bidding activity in its core middle eastern markets.
A number of contracts that were deferred in 2016 were seen coming back in 2017, CFO Alastair Cochran had told Reuters then.
(Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Saumyadeb Chakrabarty)
Copyright 2017 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Most Popular Articles
From the Career Center
Jobs that may interest you