Petrofac , Petroleum Development Oman Sign a Long-Term Agreement

Petrofac , Petroleum Development Oman Sign a Long-Term Agreement

Petrofac has secured a long-term Framework Agreement (FA) with Petroleum Development Oman (PDO) for the provision of Engineering, Procurement and Construction Management (EPCM) Support Services for major oil and gas projects according to Petrofac’s press release.

The 10 years agreement, which has an additional five-year option, builds upon a three-year program of EPCM support contract delivery that Petrofac has undertaken on behalf of PDO. Future projects undertaken through the FA will be supported by Petrofac’s Muscat office for technical delivery and to ensure sustainable in-country value is generated.

Petrofac’s Group Managing Director of Engineering and Production Services, Craig Muir, said “This is a landmark agreement between our two companies and marks a new level of collaboration between PDO and Petrofac. It builds upon a long-standing relationship which spans more than two decades and encompasses a significant number of projects undertaken in Oman on both a lump-sum and reimbursable basis,”

“Our priority will be to deliver quality oil and gas facilities that are technically robust, with an absolute focus on safety and in-country value”, he added according to The National.

PDO’s Managing Director, Raoul Restucci, stated “This long-term agreement with Petrofac reflects our continuing commitment to the safe and responsible development of hydrocarbons in the Sultanate and to drive maximum in-country value from our operations”.

Mahinaz El-Baz 317 Posts

Mahinaz El Baz received her MSc degree in Foreign Trade Economics from Helwan University in 2016. She has two years of experience in journalism and four years of experiance in economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

Login

Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password

Register