COVER STORY 40 Oil&Gas Middle East December 2010 www.arabianoilandgas.com
Peter Warner is CEO of <strong>Petrofac</strong> <strong>Emirates</strong>. www.arabianoilandgas.com COVER STORY <strong>ENGINEERING</strong> <strong>THE</strong> <strong>EMIRATES</strong> Mubadala’s foray into the EPC business is paying off handsomely with a multi-billion dollar project backlog generated in <strong>Petrofac</strong> <strong>Emirates</strong>’ first two years. CEO Peter Warner talks to Oil & Gas Middle East The union of an international energy EPC specialist and an ambitious, government supported vehicle in the Middle East was perhaps overdue. Certainly, looking back at the short timeframe between <strong>Petrofac</strong> <strong>Emirates</strong> launch, first project win, and order catalogue to date, industry insiders were right when, back in 2009 the chatter was all about the new kid in town. Spawned from Mubadala Petroleum Service’s desire to invest in long-term, capital intensive value creation projects, and <strong>Petrofac</strong>’s s craving for more of the largescale, complex Middle Eastern energy projects, the relatively fresh faced <strong>Petrofac</strong> <strong>Emirates</strong> was born just shy of two years ago. Both parent outfits have been rising stars in their respective fields for the past eight years. Mubadala has steadily and successfully stuck to its core values whilst widening its participation in the energy business. <strong>Petrofac</strong>, though formed in 1981 in Houston, Texas, only really went international a decade later, opening its EPC centre in Sharjah, UAE in 1991. In 2002 the company bought PGS Production, acquiring a foot- hold in Aberdeen’s important offshore facilities management business. At this point the company employed around 900 people. Skip forward nine years and the company’s 12 500 employees are entrusted with delivering on a 2009 backlog of US$8 billion, and last year generated revenues of $3.7 billion. The logic of joining together a vehicle which represents both the financial muscle and lofty ambition of Abu Dhabi’s 2030 vision, and an energy EPC specialist at a time when crucial upstream and process plant decisions are being made not only in the UAE, but also across much of the MENA region is irrefutable. Oil & Gas Middle East met with Peter Warner at the company’s corporate HQ in Abu Dhabi’s Mohammed Bin Zayed City, the new commercial hub emerging from the desert beyond Mussafah’s industrial areas. Looking relaxed following an Eid break in Europe, Warner sets out the mission of <strong>Petrofac</strong> <strong>Emirates</strong>. “First of all, I should mention that our remit covers all EPC projects onshore in the UAE.” The company became a legal entity in January 2009. “Since then we have been involved in two major projects, the first of December 2010 Oil&Gas Middle East 41
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