PDO signs 10-year deal to boost oil infrastructure in Oman

Petrofac announced a 10-year agreement with Petroleum Development Oman (PDO) to provide services for major oil and gas projects, officials announced.

Petrofac has signed a long term framework agreement with Petroleum Development Oman, to provide engineering, procurement and construction support services for the national company. 

The 10-year agreement, with a five-year extension option, comes after Petrofac had completed a three-year program involving support services for PDO.

Craig Mueller, General Manager of Petrofac Engineering and Production Services, said, "Today, we are reaching a historic agreement that reflects a new level of cooperation between PDO and Petrofac, and builds on a long-term relationship spanning two decades during which we have implemented a large number of projects in Oman."

"Our priority is to provide high-quality oil and gas facilities, with high technical strength, and a focus on safety and sustainable growth within Oman," he added.

Petrofac is currently carrying out two projects, on behalf of PDO, through a support services model in the fields of engineering, procurement and construction management. This includes a $1.2 billion contract in March 2014 for the integrated Rabab Harwail project and a $0.9 billion contract in June 2015 for the Yibal Khafal project.

"This long-term agreement with Petrofac reflects our continued commitment to the safe and responsible development of the oil and gas sector in Oman, and maximising the value of our operations within the Sultanate," said Raoul Restucci, Managing Director of PDO.

"PDO strives to achieve the highest level of performance and commitment in the company's supply chain, and this agreement underlines our determination to work with key partners to deliver value to Oman and our shareholders. We are confident in the growth we have achieved by our collaboration, and look forward to expanding our partnership with Petrofac," he added.

Future projects under the framework agreement will be supported by the Petrofac office in Muscat.

Source: Timesofoman