Petrofac Secures Services Contract with PDO in Oman
Petrofac has secured an engineering and procurement contract with Petroleum Development Oman (PDO) to provide services for the Yibal Khuff project, located southwest of Muscat in Oman.
As part of the four and a half year deal, which is valued at around $900 million, Petrofac will be providing engineering, construction, commissioning and procurement provisions for the Yibal Khuff field. The project is expected to add to PDO’s future oil production and the associated gas will be utilized for power generation and enhanced oil recovery developments.
Managing Director for Petrofac’s Engineering & Consulting Services business Craig Muir commented in a company statement:
"This contract builds on the Rabab Harweel Integrated Project which we are already executing alongside PDO and represents a further milestone in the development of our EPCm delivery strategy. Furthermore it reinforces our presence in Oman where we have a number of ongoing projects and a local engineering office, and where this project will further complement our agenda for increasing in country value. We will continue to maintain a strong focus on this aspect of our delivery by accessing the local supply chain and recruitment of local resources and we are very much looking forward to growing and strengthening the team working alongside PDO to deliver this project."
The Rabab Harweel Integrated Project (RHIP) engineering and procurement deal was announced by Petrofac on March 24, 2014. Petrofac’s RHIP contract, which was estimated to be worth more than $1 billion by the company, is also scheduled to last four and a half years. According to a PDO press release, first oil in RHIP is expected in 2019.
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