Petrofac wins $2bn Oman contract

Oil and gas company Petrofac yesterday won a $2.1bn (£1.3bn) contract to expand and improve refinery operations at a refinery in Oman. In a joint venture with Korean firm Daelin Industrial, it will work on the Oman Oil Refineries and Petroleum Industries Company (ORPIC) site near Muscat for three years. The construction and engineering project should increase output at the refinery by more than 70 per cent. Shares in Petrofac rose 1.76 per cent yesterday.