Petrofac News 1700X397
04 April 2008

Petrofac Awarded Ebla Gas Plant Project in Syria, Agrees to Acquire Equity in Production Sharing Contract

Petrofac, the international oil & gas facilities service provider, has been awarded a US$477 million lump-sum contract by Petro-Canada Palmyra to construct a gas treatment plant for the Ebla project in Syria.

In the Ebla project, Petro-Canada is operator with a 100% interest in a production sharing contract to develop and produce natural gas from the Ash Shaer and Cherrife fields. First gas is scheduled for delivery in 2010.

Subsequent to the contract award, Petrofac’s Energy Developments division has agreed in principle with Petro-Canada to purchase a 10% interest in the Ebla production sharing contract, subject to the approval of the Syrian government.

The Ebla gas treatment plant will be located in the Ash Shaer field between Homs and Palmyra. The initial contract, which will last just over two years, will include all associated facilities and infrastructure, including engineering, procurement and construction, commissioning and start-up assistance of the gas treatment plant, pipelines, gas gathering station flow lines and well sites. The Ebla plant will be designed to produce 88 million standard cubic feet of sales gas per day, 150 tonnes of liquid petroleum gas per day and handle the associated condensate; sales gas and condensate will be fed into the Syrian pipeline grid and LPG will be transported via tankers.

Commenting on the award, Maroun Semaan, Chief Executive, Petrofac Engineering & Construction, said: “This is another significant award in Syria for Petrofac which, taken together with the Jihar gas plant award, provides us with almost US$1 billion of work in a country where we have successfully worked on a number of projects. It confirms our position as a leading and successful contractor in the gas processing sector.”

Ayman Asfari, Petrofac’s Group Chief Executive added: “We are delighted to have been offered the opportunity to partner with Petro-Canada and the Syrian Government and we look forward to demonstrating the benefits of our integrated service offering on this exciting development.”

Peter Kallos, Petro-Canada’s Executive Vice-President, International & Offshore, commented: “We are very pleased to have Petrofac’s involvement on this project, which offers significant potential to Petro-Canada and our partners but has a demanding schedule for delivery of first gas. This agreement will be a major factor in successful execution of the project.”