UK-based oilfield services specialist Petrofac has been awarded a US$2 billion contract in Oman.

3x2 template high res

The Duqm Refinery in Oman

The deal will see the troubled firm – which is currently under investigation by the UK’s Serious Fraud Office (SFO) – working on the Duqm Refinery, with its joint venture partner, Samsung Engineering.

Petrofac will undertake engineering and construction work on the 810-hectare project, which will have a refining capacity of around 230,000 barrels of oil per day when completed.

The Oman contract is the second to be secured by Petrofac in the country in as many months; in June, it was awarded a 10-year contract to provide services to Petroleum Development Oman.

Following the news, Petrofac’s shares rose 7.5% on the London Stock Exchange. Nevertheless, its current share price remains around 40% lower than before the SFO investigation into corruption and money laundering became public knowledge.

Petrofac denies all allegations of wrongdoing.

Newsletter

Delivered directly to your inbox World Construction Week features the pick of the breaking news stories, product launches, show reports and more!

Sign up for free

Newsletter

Delivered directly to your inbox World Construction Week features the pick of the breaking news stories, product launches, show reports and more!

Go to newsletters