History

30th anniversary logoCelebrating 30 years of Petrofac...

2011 marks Petrofac‘s 30th year in business. From
25 members of staff in 1981 Petrofac has grown and evolved into a global business with more than 15,000 staff.

Over the past 30 years Petrofac has continually developed to meet new challenges and support the changing needs of our customers. This focus remains today. In celebration of this milestone, we look back at our history and heritage which has developed and created the Petrofac of today.

Company timeline

1981

 -    Petrofac was established as a producer of modular plant in Tyler, Texas, USA
25 members of staff
1991
 -
 Ayman Asfari and Maroun Semaan join and establish Petrofac International as an EPC business with an operational centre opened in Sharjah in the United Arab Emirates

1997

 -
 Petrofac Resources (now Petrofac Energy Developments) is established as a separate division
2000 - The group is awarded 39-month Ohanet project, valued at US$1 billion. This was the largest contract Petrofac had undertaken so far and was an outstanding success, marking a milestone event for the group

2001

 -

 Petrofac’s E&C services are expanded to include field facilities and development planning, early stage engineering, design and consultancy, and a new office was established in Woking, England
2002

 -

 PGS Production is acquired to create Petrofac Facilities Management, in Aberdeen, Scotland. Petrofac now employs circa 900 employees

Petrofac group is formed and a new divisional structure is implemented

2003
 -

Petrofac’s US EPF business was sold to Chicago Bridge & Iron Company N.V.

2004
 -

RGIT Montrose is acquired leading to the creation of Petrofac Training

2005 -

The acquisition of Rubicon Response further strengthens Petrofac Training

-

Petrofac Facilities Management and Petrofac Training are brought together under Petrofac Operations Services

-

The group is admitted to the Official List of the London Stock Exchange with market capitalisation of around US$1.3 billion (circa 5,500 employees)

2007
 		 - Petrofac buys a controlling stake in specialist well operations provider SPD Group Ltd
2008 -

The acquisitions of Eclipse Petroleum Technology and Caltec enhance Petrofac’s production engineering capability

The group enters the FTSE 100

2009 - Petrofac reorganises its structure and moves from three divisions to seven business units
2010 - The acquisitions of Scotvalve Services Limited and Stephen Gillespie Consultants Limited enhance Petrofac’s existing mechanical services and metering capabilities
- Petrofac completes demerger of its UKCS assets to form a new independent oil & gas production and development company, EnQuest PLC

CO2DeepStore and TNEI Limited are acquired, expanding Petrofac's current capabilities into the low carbon and renewable energy sectors

'Petrofac new energy’ created as the vehicle under which carbon capture and storage (CCS) and renewable energy activities will be marketed
June 2011 Petrofac's market capitalisaton is more than US$8 billion
A new division, Integrated Energy Services (IES), is created to help us deliver the next stage of our strategic development, whereby we harness our existing service capability and deliver this on an integrated basis to resource holders. IES comprises of three business units: Developments, Production Solutions and Training Services
August 2011 The group consists of more than 14,500 employees working around the world