Galfar wins $50mn subcontract for Duqm Refinery project
Galfar Engineering & Contracting Company, the largest construction firm in the sultanate, has been awarded a US$50.6mn subcontract by Petrofac-Samsung JV for engineering, procurement and construction (EPC) works at the Duqm Refinery project.
‘We are pleased to inform our esteemed shareholders and investors that Petrofac-Samsung JV has awarded, on October 4, to Galfar a subcontract for execution of EPC buildings works of package 1 and 3 of the main contract of EPC package 2 – utilities and off-sites of the Duqm Refinery project’, Galfar said in a disclosure to the Muscat Securities Market on Wednesday.
The UK-based Petrofac, in a 50/50 joint venture (JV) with South Korea’s Samsung Engineering, was awarded the EPC package 2 (utilities and off-sites) contract worth approximately US$2bn by Duqm Refinery and Petrochemical Industries Company in February this year. The scope of work in EPC package 2 includes the engineering, procurement, construction, commissioning, training and start-up operations for all the utilities and offsites at Duqm Refinery.
Galfar said, ‘The value of the subcontract is US$50,618,491 subject to adjustment based on measurement and payment as per the priced bill of quantities’.
The company said that the completion period of the works of the subcontract is 23 months starting from October 7, 2018. ‘This is an important contract to Galfar and further serves to underpin our revenue streams’, Galfar added.
Duqm Refinery and Petrochemical Industries Company is a joint venture between Oman Oil Company and Kuwait Petroleum International. Once the refinery is completed, it will have the capacity to process around 230,000 barrels of crude oil per day.