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    PFC   GB00B0H2K534

PETROFAC LIMITED

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Petrofac : Introduction of sweet hydrocarbons at Oman Yibal Khuff Project

05/27/2021 | 05:55am EDT

Our team delivering the massive Yibal Khuff Project for Petroleum Development Oman (PDO) has safely achieved an important milestone with the introduction of sweet hydrocarbons to the Central Processing Facilities.

Said Harrasi, PDO's Yibal Khuff Project Engineering and Procurement Manager commended everyone involved saying:

A great thanks to the entire Petrofac team who worked day and night to ensure the achievement of this milestone. Please also convey our gratitude and appreciation to all team members in Sharjah, Chennai and the Muscat office.

Khalid Abdul Kadar, Petrofac's Project Director said:

We appreciate the extraordinary team efforts during this prolonged pandemic period. We continue towards achieving the next commissioning milestones safely and for a successful plant operation.

The project is technologically complex due to the mega high sour oil and gas content. Awarded in 2015, this was our second engineering, procurement and construction management contract with PDO. The facility is located approximately 350 kilometres south west of Muscat and when complete the Yibal Khuff field will deliver:

  • 6.1 MMSCMD of associated gas
  • Around 21,900 BPD of oil

Development of the field will add to PDO's future oil production, whilst the associated gas will be used for power generation and enhanced oil recovery developments.

Categories: Middle East

Disclaimer

Petrofac Ltd. published this content on 27 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2021 09:54:04 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2021 3 209 M - -
Net income 2021 29,2 M - -
Net Debt 2021 249 M - -
P/E ratio 2021 17,3x
Yield 2021 -
Capitalization 481 M 482 M -
EV / Sales 2021 0,23x
EV / Sales 2022 0,23x
Nbr of Employees 10 645
Free-Float 78,9%
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Mean consensus HOLD
Number of Analysts 10
Last Close Price 1,43 $
Average target price 2,01 $
Spread / Average Target 40,5%
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Managers and Directors
Sami Monir Amin Iskander Chief Executive Officer & Executive Director
Alastair Edward Cochran Chief Financial Officer & Executive Director
RenÚ MÚdori Non-Executive Chairman
Tarek Massoud Chief Compliance Officer
Matthias F. Bichsel Senior Independent Non-Executive Director
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