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Abu Dhabi's Petrofac wins $400m Kuwaiti contract

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Reader Comments (3)

By Joanne Bladd

Thursday, 29 July 2010 4:00 PM

PETROFAC FACTS: Petrofac, which is listed on the London Stock Exchange, posted full year revenues of $3.655m last year. (Getty Images - for illustrative purposes only)

PETROFAC FACTS: Petrofac, which is listed on the London Stock Exchange, posted full year revenues of $3.655m last year. (Getty Images - for illustrative purposes only)

Petrofac, the Abu Dhabi-based oil services group, has won a KD116.4m ($400m) contract with the state-back Kuwait Oil Company to build fuel and gas oil pipelines.

The contract, which will span an estimated 23.5 months, will include a fuel oil pumping station, metering systems, utilities systems, the firm said in a statement.

Petrofac, which is listed on the London Stock Exchange, posted full year revenues of $3.655m last year.

Petrofac shares at 11.25 GMT were 1287 pence valuing the company at GBP4.46bn.

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Posted by: Rainegade Sunday, 29 August 2010 3:57 PM[UAE] - UAE

Petrofac is a UK based company but two of its operational centres are in the UAE - one in Abu Dhabi and one in Sharjah :) There are others in Aberdeen, Mumbai, Chennai and Woking (England). I think the article refers to a contract that has been won by the Abu Dhabi centre, Petrofac Emirates.

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Posted by: AMERICAN IN KUWAIT Sunday, 29 August 2010 8:49 AM[UAE]

I thought Petrofac was a UK Company with their HQ on High Street in London.

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Posted by: Ibrahim Friday, 27 August 2010 1:23 AM[UAE] - UAE

I thought Petrofac was based in Sharjah.

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