Petrofac wins long term PDO Oman deal

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Petrofac wins long term PDO Oman deal

Petrofac has secured a long-term Framework Agreement (FA) with Petroleum Development Oman (PDO) for the provision of Engineering, Procurement and Construction Management (EP+Cm) Support Services for major oil and gas projects.

The Agreement, which is for ten years with an additional five-year option, builds upon a three-year programme of EP+Cm support contract delivery Petrofac has undertaken on behalf of PDO. Future projects undertaken through the FA will be supported by Petrofac’s Muscat office for technical delivery and to ensure sustainable in-country value is generated.

Craig Muir, Group Managing Director, Engineering and Production Services, Petrofac said: “This is a landmark agreement between our two companies and marks a new level of collaboration between PDO and Petrofac. It builds upon a long-standing relationship which spans more than two decades and encompasses a significant number of projects undertaken in Oman on both a lump-sum and reimbursable basis.

“Our priority will be to deliver quality oil and gas facilities that are technically robust, with an absolute focus on safety and in-country value.”

Raoul Restucci, Managing Director, PDO said: “This long-term agreement with Petrofac reflects our continuing commitment to the safe and responsible development of hydrocarbons in the Sultanate and to drive maximum in-country value from our operations.

“PDO seeks a high level of performance and commitment from our supply chain and this agreement reaffirms our determination to work with key partners in our supply chain to deliver real value for Oman and our shareholders. It is our firm belief the value that we have already created working closely together can be sustained well into the future and we look forward to extending our partnering with Petrofac in this next phase of our relationship.”

Petrofac is currently undertaking two projects, on behalf of PDO, through an EP+Cm delivery model. This includes the US$1.2 billion award in March 2014 for the Rabab Harweel Integrated Project (RHIP) and the US$0.9 billion award in June 2015 for the Yibal Khuff project.

Roberto Bertocco, Managing Director, EPCm, said: “This is a major milestone in the recognition of Petrofac’s Engineering, Procurement and Construction Management support service delivery capability. The agreement cements the effectiveness of our working relationship with PDO and paves the way for the direct transfer of knowledge, skills and lessons learned from RHIP and Yibal Khuff onto future PDO projects.”

Source: www.petrofac.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.