Petrofac Secures Groundbreaking $125 Million Kuwait Contract
Petrofac has secured a major maintenance contract with Kuwait Oil Company to deliver full maintenance services on the North and West areas in Kuwait.
The five-year contract will be executed through Petrofac Facilities Management and is the first performance-based full maintenance services contract within Kuwait to be awarded to an international contractor.
Petrofac will provide integrated maintenance management and full maintenance services with the aim of improving equipment availability by providing cost-effective maintenance and associated technical support services.
The contract covers maintenance of 16 facilities mainly comprising of oil gathering centres, gas booster stations, gas steam and water injection plants, water gathering and pumping stations, gas and crude oil pipelines and well heads.
To facilitate execution of the contract, Petrofac will establish an in-country base including office, workshop and warehouse facilities. Leading Kuwaiti contractor Kharafi National will provide Petrofac with in-country support on an exclusive basis.
Approximately 650 people are to be employed on full contract operations during a six-month mobilization period, due to commence immediately. As part of Petrofac's commitment to developing skills locally, by 2010, 25% of the workforce will be comprised of Kuwaiti nationals.
KOC deputy chairman, Fahed S. Al-Ajmi said, "This contract represents a major milestone. It is the first such performance contract for KOC and I expect it to be a "win-win" arrangement. KOC is delighted to have a contractor of the calibre of Petrofac to execute the work for us."
Commenting on the award Sandy Reid, operations director, Petrofac Facilities Management said, "Petrofac Facilities Management aims to be the first choice provider of operations management, maintenance, engineering and construction services to the oil, gas and petrochemical industries worldwide.
This contract is the latest important step in the continuing growth of our provision of performance-contracting facilities management services to international oil and gas markets."
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Company: Kuwait Oil Company more info
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