Petrofac Ltd - London-headquartered energy infrastructure company with core markets in Middle East and North Africa - Selected by Abu Dhabi National Oil Co subsidiary Adnoc Gas Processing for the engineering, procurement and construction of a new gas processor plant at Adnoc’s Habshan complex, west of Abu Dhabi. Contract is valued at about $700 million. New plant will comprise three gas compressor trains and support substantial increase in gas output from Habshan. Petrofac has had a presence in the UAE since 1991.

Elie Lahoud, chief operating officer of Petrofac Engineering & Construction, says: ‘Petrofac has a long and strong track record supporting Adnoc in the UAE, rooted in our steadfast commitment to maximising local delivery, investing in the local supply chain, and developing local teams. This focus on in-country value will once again underpin our approach to delivery for Adnoc on the strategically significant Habshan complex.’

Current stock price: 79.15 pence, up 7.6% in London on Thursday

12-month change: down 29%

Copyright 2023 Alliance News Ltd. All Rights Reserved.