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    PFC   GB00B0H2K534

PETROFAC LIMITED

(PFC)
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Petrofac Limited : - Petrofac to support negative emissions in Stockholm

07/21/2021 | 07:40am EDT

Petrofac, a leading international services provider to the energy industry, has been awarded a front-end engineering design ('FEED') contract for a planned CO2 capture facility at one of Stockholm Exergi's combined heat and power ('CHP') plants.

This award, the first for Petrofac in Sweden, signals an important step in the Group's growth strategy.

The development of CO2 capture facilities at the 375 MW CHP biofuel power plant at Vartaverket will support Stockholm Exergi's goal of reducing carbon emissions beyond net zero, while also meeting the energy needs of the city and the surrounding area. By introducing circular economy solutions, Stockholm Exergi will be able to improve sustainability, counter environmental impacts and align with the commitments of the Paris Agreement.

Petrofac's scope of work for the project includes the process design package ('PDP') and FEED for the >800,000 tpa CO2 capture plant, along with CO2 compression, dehydration, liquefaction, onsite storage, and outward shipment terminal, from where the CO2 will be transported to its final storage site.

Stockholm Exergi has selected CO2 Capsol's end-of-pipe solution as its capture technology and selected a third party to provide a Hot Potassium Carbonate solvent process design package. Petrofac will deploy its significant experience to integrate the process design package into the main FEED deliverables, which include a cost estimate and technical documentation for the subsequent engineering, procurement, and construction phase.

This project adds to the recent clutch of new energy projects secured in the UK and Australia, further adding to the Group's track record for the development, definition, and execution of infrastructure developments in offshore wind, carbon capture, utilisation and storage ('CCUS'), hydrogen and waste to value plants.

Contact:

Martin Robinson

Tel: 020 7785 5421

Email: petrofac@tulchangroup.com

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 3 225 M - -
Net income 2021 49,8 M - -
Net Debt 2021 266 M - -
P/E ratio 2021 13,1x
Yield 2021 -
Capitalization 633 M 633 M -
EV / Sales 2021 0,28x
EV / Sales 2022 0,29x
Nbr of Employees 10 645
Free-Float 78,9%
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Number of Analysts 9
Last Close Price 1,88 $
Average target price 2,04 $
Spread / Average Target 8,46%
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Managers and Directors
Sami Monir Amin Iskander Chief Executive Officer & Executive Director
Afonso Reis E Sousa i 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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