Petrofac Wins India EPC Contract
UK-listed Petrofac has been awarded an engineering, procurement and construction (EPC) project by India's Vedanta.
It is for the development of Vedanta’s Raageshwari Deep gas field, located onshore the Barmer district of Rajasthan. This is a deep, tight, high condensate gas reservoir that during the 2016-17 financial year produced 25mn ft3/d. Vedanta says that the field has the potential to reach 150mn ft3/d in future
The EPC contract, valued at $233mn, is for integrated gas surface facilities and includes pre-commissioning and commissioning. Under the terms of the 23-month contract, the scope of work includes well pads, flowlines and a new gas processing terminal, Petrofac said April 3. “This award is further confirmation of our organic growth ambitions in action. It is particularly pleasing that we continue to build our presence in-country following two other recent EPC contract awards," said Sunder Kalyanam, head of Petrofac’s Engineering & Construction Growth.
Raageshwari is one of the assets originally held by UK producer Cairn, which is seeking at least $1.3bn compensation from Vedanta through an arbitration referral due to be heard August 2018.