OIL AND gas services firm Petrofac yesterday said it has won a contract in Oman worth over $1bn (£610m), boosting its already strong position in the Middle East.
The FTSE 100 firm won the four and a half year engineering and procurement deal from oil and gas producer Petroleum Development Oman (PDO), to provide services for its Rabab Harweel Integrated Project, located in the south of the country.
A quarter of the contract’s revenues are expected to come from professional services, such as engineering and construction.
“We have a strong track record in Oman with PDO as well as direct engineering, procurement and construction (EPC) experience on the previous Harweel development,” said Craig Muir, managing director for Petrofac’s engineering and consulting services business.
“This award also underpins Petrofac’s strategy to enhance service capability in the Middle East; providing added value to our regional customers as well as our onshore and offshore EPC business.”
This is the latest in a stream of large contracts that Petrofac has been awarded in the Gulf.
Last month a joint venture led by the firm was awarded a $3.7bn oil refinery contract in Kuwait.
Petrofac, along with joint venture partner Daelin Industrial, won a $2.1bn contract to expand and improve refinery operations at a refinery in Oman last November.
Shares closed down one per cent.