UK contractor earns $1.8bn so far in 2018

28 June 2018
Firm says it has bid for $20bn worth of project opportunities set to be awarded in the second half of the year

UK oil and gas contractor Petrofac has announced winning $1.8bn worth of contracts from its global business in the first half of 2018.

“We are well-positioned on several bids and tendering activity remains high with around $20bn of bid opportunities due for award in the second half of the year,” Petrofac CEO Ayman Asfari has been quoted as saying in the company’s pre-closure trading update for the first half of 2018.

The company says it is “making good progress” on its engineering and construction contracts in the region on projects including: the Kuwait National Petroleum Company’s Clean Fuels project (package 1 of the Mina Abdullah refinery, awarded in 2014); the Kuwait Oil Company’s Lower Fars Heavy Oil development project (awarded in 2015); the Abu Dhabi National Oil Company’s (Adnoc) Upper Zakum Field Development (awarded in 2013); and Saudi Aramco’s Fadhili Sulphur Recovery Plant (awarded in 2015).

Petrofac also mentions starting construction on its parcel of the Duqm refinery project, a job it won in a consortium with South Korea’s Samsung Engineering.

In the engineering and construction domain, Petrofac says it has secured new orders worth $1.2bn worldwide, including a major upstream project in the GCC.

The firm says it has won $1.2bn worth of engineering and construction works in H1 2018, including a “major upstream project in the GCC”. MEED reported in March that the company won the main contract for phase 2 of Adnoc’s Qusahwira onshore oil field development, worth $580m.

In the engineering and production services domain, Petrofac says it has started work on the $265m job for phase 3 of Petroleum Development Oman’s chemical enhanced oil recovery project in the Marmul oil field.

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