Petrofac Win Kovykta Field Development Projects

Petrofac has won two contracts in connection with the development of the Kovykta gas and condensate field in East Siberia. The contracts run for three years and total over $60 million.

The first contract, awarded by RUSIA Petroleum, will see Petrofac provide project management services for the engineering, procurement and construction of new 2.5 BCM/year gas production facilities and condensate loading system. Under the second contract, with East Siberian Gas Company, Petrofac will provide project management services for the design and construction of the main gas pipeline which will provide gas to local consumers in the Irkutsk region. The 645 km pipeline will extend from the processing facilities at Kovykta to the region's capital, Irkutsk, with first gas scheduled to be delivered to consumers towards the end of 2006. Both RUSIA Petroleum and East Siberian Gas Company are part-owned by TNK-BP. The total investment being made which is under Petrofac's project management amounts to approximately $1.1 billion.

Commenting on the project, Maroun Semaan, Chief Executive, Petrofac Engineering & Construction, said: "We are delighted to have won these contracts with RUSIA Petroleum and East Siberia Gas Company. Russia is a key strategic market for Petrofac and this extends our foothold in the region."

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Posted 23/01/06

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