Petrofac named top EPC contractor by Arabian Oil and Gas for 4th time

Petrofac has taken the no.1 slot in a list of the Top 30 Contractors for the 4th time in five years.

The report, compiled by Arabian Oil and Gas magazine says:

“The top spot of this year's Top EPC Contractors is reserved for the international oilfield giant Petrofac.

“Petrofac had a very successful start to the year winning deals for some of the Middle East's most ambitious large scale projects. In January, the London-listed EPC giant secured a $4bn deal for the first phase of the Lower Fars heavy oil development programme in Kuwait.

“When fully operational the initial phase is expected to produce around 60,000 barrels of oil a day. Petrofac is leading a consortium with Greece- based Consolidated Contractors Company (CCC) as its partner.

“In February, Petrofac won two oilfield service contracts with Algerian state-owned oil company Sonatrach. Under the first agreement, the company will provide multi-discipline engineering, design and procurement services for Sonatrach's upstream hydrocarbon development program over a five-year period.

“In November, 2014 the firm bagged a second contract extension from South Oil Company (SOC) for support on its Iraq Crude Oil Expansion Project. The 12-month extension is worth around $106mn bringing the total value of the contract to more than $300mn since it was first awarded in 2012.

“The company was also selected by BP in Iraq to provide general construction management services for the huge Rumaila oilfield. The potential value of the deal has been put at $500mn and will last for three years, with an option for further two-year extension.”

Read the full 2015 Top EPC Contractors article here.