Petrofac Secures $580MM EPC Contract for 'Major' Project

Petrofac Limited announced Monday that it has signed a binding letter of intent for a contract worth around $580 million with a GCC National Oil Company, for the engineering, procurement and construction (EPC) of a ‘major’ project. 

The company revealed that specific details in relation to the project remain confidential at this time, but said additional information would be announced ‘in due course’.

“Petrofac has a very strong record of project execution in the GCC. This latest contract award further cements our footprint in our core markets, and we look forward to delivering a safe and successful project,” E. S. Sathyanarayanan, Petrofac Group managing director of engineering & construction, said in a company statement.


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