Bilfinger's Oman JV wins big PDO contract extension
MUSCAT, March 18, 2017
Germany-based Bilfinger said its Oman joint venture has won an extension of its multimillion-dollar framework contract to provide engineering and maintenance services to oil and gas company Petroleum Development Oman (PDO).
A European company specialised in civil and industrial construction, engineering and services, Bilfinger said the contract has been extended till 2021. In Oman, the company is represented by its subsidiary Tebodin & Partner.
Over the course of the remaining term of the joint venture, Bilfinger expects a turnover of around €200 million ($215 million), said a top official.
"We are pleased to be able to continue the longstanding partnership with PDO. The order confirms our new strategy: the Middle East is a growth market with potential for us," remarked its CEO Tom Blades.
"Bilfinger has an excellent reputation in the region and stands for the highest level of quality and safety. This is the basis for current and future success," he stated.
According to him, the framework agreement for engineering and maintenance services has been in place since 2011.
The extension of the contract was brought forward by a year due to the good co-operation, he noted.
PDO is the largest oil and gas production company in Oman responsible for over 70 per cent of oil production and almost all gas production in the country.
It is majority state-owned, with Royal Dutch Shell the second largest shareholder.
Bilfinger is active in the Middle East with around 4,000 employees in the engineering and technologies (E&T) and maintenance, modifications and operations (MMO) business segments.-TradeArabia News Service