Petrofac Signs an Agreement with ecg in equatorial guinea

Petrofac Signs an Agreement with ECG in Equatorial Guinea

10-25-2007

Petrofac has entered into a Memorandum of Understanding (MOU) with Equatorial Consolidated Group to develop oil and gas business opportunities in Equatorial Guinea.

Under the MOU, Petrofac and ECG will integrate their expert skills and services in order to grow the development and modification of oil and gas facilities in Equatorial Guinea, both onshore and offshore.

Petrofac's experience and competence in major aspects of onshore oil and gas facilities construction and construction management as well as project design, implementation and project management will be combined with ECG’s core experience in major aspects of onshore oil and gas facilities construction and construction management.

"Our strength lies in being a national company, strongly backed by its well known international parent company Consolidated Contractors International Company S.A.L., better known as CCC," said Walid Tayara, ECG’s area manager for Equatorial Guinea. "ECG’s mandate is to serve the Equatorial Guinea community in encouraging the development of national manpower considering always the importance of transfer of knowledge. This agreement further contributes an added value to ECG’s operation in Equatorial Guinea."