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FINANCIAL NEWS
Sharjah awards $250m deal to Petrofac
12 Oct 2010
(MENAFN) The Government of Sharjah said that it has awarded a $250 million contract to Petrofac, the oilfield services company based in the UK, to operate the Sajaa gas plant and associated assets in the emirate, The National reported.
The five-year services deal is part of a plan for BP to withdraw from its gas concession in Sharjah when its contract expires in November 2013.
BP Sharjah operates the Sajaa, Moveyied and Kahaif gas fields in Sharjah, along with the Sajaa gas processing plant, gas compression facilities and two export terminals for liquids extracted from natural gas.
Petrofac said it would assume control of the operations by the end of this year, while the Sharjah Government would replace BP as the concession operator. About 130 staff involved with running the Sajaa facility would transfer to Petrofac during the transition period.
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