By Joe Hope
Petrofac Ltd. said Thursday that a consortium it is leading has provisionally won an engineering, procurement and construction contract for a development in Algeria, with its share coming in at around $200 million.
The London-listed provider of services to the energy industry said that its consortium with French civil-engineering company Genie Civil et Batiment was awarded the contract for the Tinrhert EPC2 Development Project by Sonatrach, the national state-owned oil company of Algeria. The total contract is valued at around $300 million.
The project–located in Alrar, around 1,500 kilometers southeast of Algiers–will provide a new central processing facility, and the scope of the work includes tie-ins to existing facilities, commissioning, start-up and performance testing.
Petrofac didn’t disclose details on why the contract is provisional.
Shares at 0752 GMT were up 2.8 pence, or 2.5% at 116.4 pence.
Write to Joe Hoppe at [email protected]
Credit: www.marketwatch.com /