- Petrofac Awarded US$280 Million Offshore Contract by Petronas in Malaysia30 December 2010
- Petrofac to Commence US$3.4 Billion Second Phase of Turkmenistan Contract22 December 2010
- Trading Update17 December 2010
- Petrofac Acquires Interest in UK Gas Storage Company6 December 2010
- Petrofac Emirates Achieves Independent Certification to ISO 90015 December 2010
- Strategic Alliance with Seven Energy25 November 2010
- SPD Completes Multi-Well, Multi-Customer Management Programme in UK North Sea18 November 2010
- Petrofac Awarded £40 Million North Sea Engineering Services Contract by Maersk Oil12 November 2010
- Petrofac First to Attain Approval for New OPITO Major Emergency Management Course1 November 2010
- Petrofac Awarded Gas Plant Contract with Total27 October 2010
- Interim Management Statement21 October 2010
- Petrofac Employees Support Pakistan Flood Victims21 October 2010
- Petrofac to provide Duty Holder Services for Sharjah Government11 October 2010
- Petrofac Creates New National Training Centre for Syrian Arab Republic7 October 2010
- Petrofac and Shell Agree Partnership for North Sea CCS Project4 October 2010
- Petrofac Acquires CO2 Storage Business27 April 2010
- Petrofac Secures New North Sea Contract with Britannia26 April 2010
- Petrofac Athletics League begins new season23 April 2010
- Completion of the Demerger of the UK Continental Shelf Oil & Gas Assets of Petrofac Energy Developments6 April 2010
- Petrofac Acquires Metering Specialist1 April 2010
- SPD Commences Multi-well, Multi-customer Manangement Programme in UK North Sea30 March 2010
- Petrofac Wins Qatar Petroleum Contract Worth More Than US$600 Million29 March 2010
- Petrofac Helps Aberdeen School Raise More Than £7,000 at Annual Dinner Dance26 March 2010
- Eclipse Petroleum Technology Signs Agreement with Weatherford to Enhance and Distribute PetroAtlas22 March 2010
- Final Results for the Year Ended 31 December 20098 March 2010
- Directorate/Board Committee Changes8 March 2010
- Petrofac Begins Pipeline Export and Production from Don Southwest Sidetrack5 March 2010
- Proposed Demerger of the UK Continental Shelf oil & gas assets of Petrofac Energy Developments to create EnQuest PLC4 March 2010
- Circular posted to Shareholders4 March 2010
Completion of the Demerger of the UK Continental Shelf Oil & Gas Assets of Petrofac Energy Developments
6 April, 2010
Petrofac, the international oil & gas facilities service provider, is pleased to announce the completion of its Share Split and the Demerger of Petrofac Energy Developments Limited to EnQuest PLC (“EnQuest”).
EnQuest Shares have now been admitted to the Official List and to trading on the London Stock Exchange's market for listed securities. EnQuest Shares are trading under the ticker "ENQ". The EnQuest Shares are also expected to be admitted to trading on the NASDAQ OMX Stockholm on 9 April 2010.
Petrofac Shares now have a nominal value of US$0.02 each and continue to trade under the ticker "PFC" on the London Stock Exchange's market for listed securities.
The Petrofac B Shares created as part of the Share Split were purchased by Petrofac and cancelled on 5 April 2010. EnQuest Shares have been issued to Petrofac Shareholders in accordance with the terms and procedures set out in Petrofac’s Circular to its shareholders dated 4 March 2010 (the “Circular”).
As anticipated in the Circular, Amjad Bseisu (chief executive officer, EnQuest) has resigned from the Petrofac Board with immediate effect.
Commenting on the completion of the demerger, Ayman Asfari, group chief executive, Petrofac, commented: “I am delighted we have successfully completed the Demerger of our UK Continental Shelf upstream assets and the launch of EnQuest as a listed independent development and production company. The Demerger is an important realisation of our ‘harvest’ strategy and we remain fully committed to our Energy Developments business unit and will continue to pursue value creating investments in oil & gas upstream and energy infrastructure developments.
“As a result of the Demerger Amjad leaves the Petrofac group today. I would like to take this opportunity to thank him for his significant contribution to Petrofac over a number of years and to wish him every success in creating value for EnQuest shareholders going forward.”