‘The completion period of the works of the subcontract is 17 months. This is an important contract to Galfar and further serves to underpin our revenue streams’, Galfar said in a filing to the Muscat Securities Market (MSM).
Following the announcement about the new contract, the shares of Galfar Engineering and Contracting rose 2.6 per cent on Tuesday at the Muscat Securities Market.
Petrofac, a UK-based oil and gas sector services company, in January 2017 was awarded a US$600mn contract for the Salalah LPG extraction project to undertake the engineering, procurement and construction works of the project.
Salalah LPG extraction project, which is to extract all of propane, butane and condensate associated with the natural gas pipeline from Salalah area, is likely to start actual production run by 2019.
Tags: Oman, Muscat, Galfar, gets, subcontract, Salalah LPG, project, Galfar Engineering and Contracting Company, engineering, procurement, construction, EPC, Petrofac E&C Oman, LPG extraction