Oil and gas facilities services company Petrofac PLC (PFC.LN) Monday confirmed it had provisionally won a contract to build the Gassi Touil liquefied natural gas (LNG) plant in Algeria.
Petrofac, a FTSE-100 company, won the contract with Indonesian engineering company IKPT, the company said in a statement.
Algeria's Sonatrach has given Petrofac and IKPT 10 days to obtain the requisite guarantees that they can build the plant at the price they bid.
The plant, at the Mediterranean port of Arzew, has a production capacity of 4.3 million tons a year and bids for the contract were evaluated on a cost-per-ton basis, Petrofac said.
The Petrofac IKPT group bid 55,000 dinars per ton, or about $900. That was the lowest bid, the company said.
Petrofac's share price closed Friday at 650 pence, up about 18% since the start of January.