Petrofac, a British-based international oil and gas facilities service provider, announced it had won a US$477mn lump-sum contract from Petro-Canada to build a new gas treatment plant for the Ebla project in Syria.
The plant is expected to have a daily production capacity of 88mn cubic feet of sales gas and 150 tons of liquefied petroleum gas, scheduled for first delivery in 2010.
Maroun Semaan, chief executive of Petrofac, announced at the signing of the agreement: "This is another significant award in Syria for Petrofac which, taken together with the Jihar gas plant award, provides us with almost US$1bn of work in a country where we have successfully worked on a number of projects."
Petrofac was also awarded a 10% stake in the Ebla production contract as part of the deal, which will develop and produce gas from the Ash Shaer and Cherrife fields.
Energy analysts expressed cautious optimism over the deal, noting concern over how much shareholder value will be added given that Petrofac only has a minority stake.
The initial contract, which will last just over two years, will include all associated facilities and infrastructure, including engineering, procurement and construction, commissioning and start-up assistance of the gas treatment plant, pipelines, gas gathering station flow lines and well sites.
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