Petrofac snaps up new deals worth £220m in Oman
Oil field services firm Petrofac today announced it had won two contracts worth a combined $300m (£220m) from Oman’s petroleum development outfit.
Shares in the firm rose 1.5 per cent in early trading today.
The first of these, at Marmul in the south of the Gulf state, is a 30 month contract to build and commission a gas compression project.
The second is for a seven-year project in the north of the country with Arabian Industries Projects.
Petrofac will provide engineering services, project support, and management for the development.
Elie Lahoud, Petrofac’s chief operating officer, said: “Petrofac has a significant track record in Oman and Petroleum Development Oman are a longstanding client.
“We look forward to building on our strong relationship through these latest contract awards. Both will be delivered by our teams in the Sultanate, with the focus on safety, maximising local and sustainable delivery, and generating in-country value.”
Yesterday the FTSE 250 firm pushed back the publication of its full-year results to April due to the impact of the pandemic.
It said that the postponement was due to the “heightened challenges in preparing and auditing financial information” due to Covid-19.