Galfar wins OMR115m PDO contract

Muscat: Galfar Engineering and Contracting Company said that the company has won a major contract to build Yabal Khuff project on plot for Petroleum Development Oman (PDO).
The total cost of the project is estimated at OMR115 million and the duration of the contract is 51 months, according to a disclosure statement.
The scope of work includes construction of new central processing facility in Yibal Khuff area, which include civil, mechanical, electrical and instrumentation works.
Galfar shares surged ahead by 3.28 per cent to 63 baisas amid 1.67 million shares changing hands.
Galfar, the largest contracting firm in Oman, has a healthy order book of around OMR665 million by end of December 2015, according to the financial results.
“Several projects are seen to be in the pipeline and Galfar stands a good chance at winning some of them during the year 2016. The outlook to win additional projects is particularly promising in the oil and gas sector,” the company said in its annual report.