Petrofac are to lead the consortium behind an integrated petrochemical project in Kazakhstan following the appointment by the country’s oil and gas company, KLPE.
The Integrated Petrochemicals Complex and Infrastructure (IPCI) project, planned for the Tengiz and Karabatan regions of Kazakhstan, is estimated to be worth more $3.6billion (£2.24billion) upon completion.
The first phase of the contract, valued at $77million, will involve engineering work on an open book estimate which, if successful, would lead to the proposed $3.5billion second phase polyethylene plant.
“Alongside our partners, Linde and GS, I believe our consortium has the ability to deliver a high quality project,” said Marwan Chedid, chief executive of Petrofac’s engineering, construction, operations and maintenance (ECOM) division.
“I am delighted that we are involved in such a strategic project with KLPE which represents another significant milestone for us in our relationship with the Kazakh market.”