OQ Exploration & Production Company has awarded Galfar Engineering and Contracting Company an engineering, procurement, and construction (EPC) contract worth roughly USD 75 million. Galfar estimates the value of this call-off contract to be approximately USD 727 mn for an execution period of seven years. The contract also includes an additional three-year extension option worth USD 311 mn. After securing several contracts in the oil and gas sectors earlier this year, Galfar continued to maintain a significant project pipeline of USD 1.25 billion, supported by new project awards worth USD 24 mn in the first quarter of 2023.
- Oman’s Galfar bags $75mln contract from OQ