- Petrofac Appointed by Turkmengas on South Yoloten Gas Field Development30 December 2009
- Trading Update16 December 2009
- Kincorth Academy Builds Bridges with Petrofac11 December 2009
- Petrofac delivers global project management training through strategic alliance7 December 2009
- Don Southwest update3 December 2009
- Petrofac celebrates group-wide Environment Month1 December 2009
- Petrofac and Louisiana State University launch the first OPITO approved fire training course in the United States20 July 2009
- Petrofac acquires floating production facility17 July 2009
- Petrofac partnership awarded US$2.1 Billion Abu Dhabi integrated gas development contract16 July 2009
- Petrofac awarded engineering and offshore construction contract on Forties Field9 July 2009
- Petrofac Training Services appoints new Managing Director6 July 2009
- Petrofac awarded gas compression project worth more than US$350 million2 July 2009
- Don Southwest Commences Production1 July 2009
Zamil Group and Petrofac establish new Joint Venture in Saudi Arabia
24 November, 2009
Petrofac, the international oil & gas facilities service provider, has established a Joint Venture agreement with Zamil Group Holding Company to create and operate a new service centre facility in the Kingdom of Saudi Arabia.
The Joint Venture Company (the “Company”), will be a limited liability company, owned and operated equally by Petrofac and Zamil with each partner making an initial cash investment of 2,000,000 SAR (c. US$530,000). Limited additional investment in plant and equipment may be necessary and will be met equally by the partners.
The Company is expected to begin trading in early 2010. Petrofac’s interests in the new venture will be overseen by its mechanical services operation, part of the Offshore Engineering & Operations business, which already operates similar facilities in the United Arab Emirates.
The service centre will provide a range of capabilities covering oilfield and process plant equipment. The activities will include the overhaul, maintenance and repair for process equipment as well as the manufacture of spare parts, component reconditioning, assembly of third-party equipment and field-service support.
The alliance with the Zamil Group enables Petrofac to create a platform for the delivery of essential equipment maintenance and reconditioning services in Kingdom, and underlines the group’s commitment to having a long-term presence in Saudi Arabia.