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    PFC   GB00B0H2K534

PETROFAC LIMITED

(PFC)
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Delayed Quote. Delayed London Stock Exchange - 06/15 11:35:21 am
134.1 GBX   +1.21%
05/27PETROFAC  : Introduction of sweet hydrocarbons at Oman Yibal Khuff Project
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Petrofac : OQ LPG Facility Commissioned in Salalah

05/10/2021 | 08:22am EDT

Our Liquefied Petroleum Gas (LPG) project for OQ has been commissioned in Salalah, Southern Oman.

Petrofac was awarded the engineering, procurement and construction (EPC) contract for the gas treatment project in 2017. With its centrepiece extraction facilities located in the Salalah Free Zone adjoining the Port of Salalah, the project has the potential to create a new energy hub for the production of LPG, with growing demand in both domestic and international markets. Our scope of work has included construction of the LPG unit and associated facilities, including tie-ins to existing pipeline infrastructure, together with LPG storage and jetty facilities at the port.

Ian Debattista, Petrofac's Oman Country manager said:

Petrofac has been serving Oman's oil and gas industry for more than 30 years, but this is our first project in the region of Salalah and also the first of its kind to extract LPG and condensate from OQ's gas network. The facility has been built to the highest standards in safety, quality, and technical integrity, with more than 15 million work hours without any lost time incident. The creation of In-Country Value has been a key objective. Across the project we have engaged with more than 300 locally based businesses and our Corporate Social Responsibility initiatives in Dhofar have included the supply of medical equipment to the local community hospital.

The plant's production is expected to reach a total of 300,000 MT per annum. Besides driving economic value through propane, butane and condensate sales, it will generate potential downstream business such as petrochemicals.

The commissioning is expected to be completed by mid-May 2021 and forms the final technical requirement before the start of commercial operations. The project team recently celebrated the production of the first on-spec product which is considered as one of the key milestones during the commissioning phase.

Categories: Middle East

Disclaimer

Petrofac Ltd. published this content on 10 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2021 12:21:01 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 3 392 M - -
Net income 2021 45,5 M - -
Net Debt 2021 195 M - -
P/E ratio 2021 24,9x
Yield 2021 -
Capitalization 630 M 630 M -
EV / Sales 2021 0,24x
EV / Sales 2022 0,24x
Nbr of Employees 10 645
Free-Float 76,0%
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Sami Monir Amin Iskander Chief Executive Officer & Executive Director
Alastair Edward Cochran Chief Financial Officer & Executive Director
René Médori Non-Executive Chairman
Tarek Massoud Chief Compliance Officer
Matthias F. Bichsel Senior Independent Non-Executive Director
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