Petrofac
What a difference a year makes. 12 months ago, the Jersey registered firm was embroiled in legal scrutiny over its dealings with Monaco’s Unaoil and, despite those enquiries continuing, the EPC operator has nevertheless gone from strength to strength, securing all manner of contracts, not only within the Middle East but also in both the upstream and downstream segments.
Petrofac’s order backlog has pushed through the $10bn mark and highlights in its confirmed order book include two deals in Iraq, one for a crude export facility offshore the Al Fao Peninsula and another to operate the expanding Majnoon oilfield alongside China’s Anton Oilfield Services (remember that name).
But this is just the start – the firm, headed up by Ayman Asfari, has also landed some big tickets deals such as an $800mn contract from supermajor BP for the second planned phase of the major Khazzan gas project in Oman. Petrofac will help spike production from the central processing facility to around 1,500 million standard cubic feet per day.
The firm has penned a ten-year association with Petroleum Development Oman, which has already fashioned a significant downstream contract, while it also has on-going key projects in Kuwait. Expect even more – Petrofac is actively tendering and it rightly deserves our Top 30 EPC Contractors top spot.
