Petrofac Becomes Yet More Dominant In Kuwait

Kuwait was already the largest single area of operations for UK services firm Petrofac. A new $1.3bn award sees the company cement its position further.

British services firm Petrofac has added to its recent successes in Kuwait by scooping a $1.3bn contract to construct a key gathering center in the country. Gathering center GC-32 is intended to help maintain output at the 1.7mn b/d Burgan oil field and to counter rising sulfur levels there.

Kuwait already accounted for by far the largest single share of Petrofac’s revenue for 2016: some $2.19bn, 28% of the firm’s total revenue (see chart).

Petrofac states that the GC-32 engineering, procurement and construction (EPC) project “will process crude oil and associated gas recovered from the Arifjan, Marat, Minagish Oolite and Burgan Wara high Hydrogen Sulphide” layers at Burgan. The project is scheduled to be completed in mid-2020. (CONTINUED - 470 WORDS)

DATA INSIDE THIS ARTICLE

chart Petrofac’s Kuwait Earnings Quadruple In 2016 ($Mn)