Algerian delay forces Petrofac to defer revenues

20 May 2013

Work ceasing at its $1.2bn In Salah project in Algeria forces UK contractor to push back profit estimates

The UK’s Petrofac has been forced to defer some of its expected revenues due to the rephasing of the In Salah gas processing project in Algeria, which was delayed due to the In Amenas terrorist attack in January.

Ayman Asfari, the Petrofac chief executive said in a statement that the company expected to “remobilise on the contract during the second half of the year”.

Petrofac was awarded the $1.2bn contract to develop the southern gas fields at In Salah in 2011. The scope of works includes the construction of a central production and gas gathering facility. This will comprise two dehydration trains, with the production capacity of 16.8 million cubic metres-a- day of gas.

Also included are worker camps, 300 kilometres of pipelines connecting the separate fields to the facilities.  

In Salah is a joint venture between the state-owned oil major Sonatrach, the UK’s BP and Norway’s Statoil.

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