Petrofac has won a €340m contract with gas behemoth Gazprom to help build onshore pipelines and a gas receiving terminal in Turkey that will be connected to Anapara on the far Russian coast. FTSE 250 company, which is being investigated by the UK`s Serious Fraud Office over potential bribery and money laundering, will carry out engineering, procurement and construction work for Gazprom`s South Stream Transport subsidiary.

Petrofac`s engineering, procurement and construction management business has been undertaking early works for the project, including front end engineering design verification, design and procurement. The receiving terminal is due to be ready for commercial operations in December 2019, when it will receive 31.5bn cubic metres of gas annually from the TurkStream pipeline originating from the compressor station in Anapa, Russia.