- Appointment of Bill Dunnett18 September 2007
- Brownfield Awarded LNG Contract in Equatorial Guinea13 September 2007
- Scottish MSP Takes Part in Petrofac's Environmental Awareness Month11 September 2007
- Petrofac Marks 10th Anniversary as Duty Holder with Northern Producer Success6 September 2007
- Interim Results for the six months ended 30 June 20076 September 2007
- Petrofac Training Unites Divisions Under a Single Brand4 September 2007
- Award of Karachaganak Phase III Feed25 June 2007
- Trading Update25 June 2007
- Increased Demand for Greenhand Course21 June 2007
- Petrofac Awards Scholarship to Aberdeen University Student12 June 2007
- Petrofac Resources Division Renamed 'Petrofac Energy Developments'11 June 2007
- Investment in Australian Interest4 June 2007
- Petrofac & Babcock Create Skills Alliance29 March 2007
- Industry Award Success for Petrofac20 March 2007
- Successful First Year for Emergency Service Response Centre19 March 2007
- Petrofac Commits to Southern North Sea19 March 2007
- Final Results for the year ended 31 December 20065 March 2007
- Directorate Change5 March 2007
Investment in Australian Interest
4 June, 2007
Petrofac, the international oil & gas facilities service provider, announces that its Resources division has farmed into 10% of Permit NT/P68, 300 km NNW of Darwin in Australian waters. MEO Australia Limited, which is listed on the Australian Securities Exchange (symbol: MEO), owns the remaining 90% of the permit. The investment is conditional upon, inter alia, the approval of the assignment by the relevant governmental authorities.
Permit NT/P68 extends over an area of 12,070 km² and within it the Heron-1 well was drilled in 1972 and had several interpreted hydrocarbon bearing zones, the most significant being in the Darwin Formation. The terms of the farm-in require funding a portion of two appraisal wells to be drilled in 2007. Petrofac will become operator for any follow-on delineation, development and production periods.
Subject to the results of the appraisal programme, it is anticipated that the accumulations in the block may be of sufficient size to be commercialised either by pipeline to the mainl& or to the Tassie Shoal LNG project.
Amjad Bseisu, chief executive of Petrofac Resources, said “This farm-in commitment provides Petrofac with a low risk opportunity to gain an operator position in a potentially significant offshore development which may incorporate an LNG facility. We look forward to bringing our engineering and operating capabilities to this exciting development.”