Petrofac Announces MOU in Equatorial Guinea
24 October, 2007
Petrofac, the international oil & gas facilities service provider, has announced that it has entered into a Memor&um of Understanding (MOU) with Equatorial Consolidated Group Ltd (ECG) to develop oil & gas business opportunities in Equatorial Guinea.
Under the MOU, Petrofac and ECG will integrate their expert skills and services in order to grow the development and modification of oil & gas facilities in Equatorial Guinea, both onshore and offshore.
Petrofac's experience and competence in major aspects of onshore oil & gas facilities construction and construction management as well as project design, implementation and project management will be combined with ECG’s core experience in major aspects of onshore oil & gas facilities construction and construction management.
Bill Bayliss, vice president of Petrofac Brownfield, which is a business within Petrofac Facilities Management and will carry out the work, comments: “This MOU partnership represents a significant step forward in its Petrofac’s total offering in Equatorial Guinea. It enhances Petrofac’s capability and service offering in a country where we are already working. We look forward to developing new business opportunities.”
Walid Tayara, ECG’s area manager for Equatorial Guinea, says: "Our strength lies in being a national company, strongly backed by its well known international parent company Consolidated Contractors International Company S.A.L., better known as CCC. ECG’s m&ate is to serve the Equatorial Guinea community in encouraging the development of national manpower considering always the importance of transfer of knowledge. This agreement further contributes an added value to ECG’s operation in Equatorial Guinea."