March 28 British oilfield services company
Petrofac Ltd said on Tuesday Kuwait Oil Co had awarded
the company a $1.3 billion engineering, procurement and
construction contract for the Burgan oil field in south-east
Petrofac's shares rose as much as 2.33 percent.
The company will develop a gathering centre to process crude
oil and gas recovered from Arifjan, Marat, Minagish Oolite and
Burgan Wara high hydrogen sulphide fields, with work scheduled
to be completed by 2020.
Petrofac said in February that it saw an uptick in bidding
activity in its core middle eastern markets.
A number of contracts that were deferred in 2016 were seen
coming back in 2017, CFO Alastair Cochran had told Reuters then.
(Reporting by Sanjeeban Sarkar in Bengaluru; Editing by