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Petrofac leading the way in environmental vessel design


12 March 2015

Petrofac is introducing eco-friendly vessel design by combining and integrating the latest environmental technologies in its JSD6000 deepwater oilfield services vessel. The vessel, which will be operational in 2017, is designed to operate in the most competitive sectors in the world......

Categories:   AMERICAS   EUROPE   MIDDLE EAST   ASIA PACIFIC   INDIA   AFRICA   CIS  

Petrofac and McDermott Enter Strategic Alliance for SURF Sector


25 February 2015

Petrofac has entered into a Memorandum of Understanding (MoU) with offshore engineering, procurement, construction and installation (EPCI) company McDermott International, Inc. (McDermott) (NYSE:MDR) to form a strategic marketing alliance......

Categories:   AMERICAS   EUROPE   AFRICA   ABERDEEN  

Final Results for the Year Ended 31 December 2014


25 February 2015

Petrofac Limited today announces its Final Results for the year ended 31 December 2014. .....

Categories:   AMERICAS   EUROPE   MIDDLE EAST   ASIA PACIFIC   INDIA   AFRICA   CIS  

Charities reap rewards following Petrofac and TOTAL safety pledge


12 February 2015

Petrofac and TOTAL have handed over £10,000 to charitable causes following a successful safety campaign......

Categories:   EUROPE   ABERDEEN  

Petrofac secures strategic services agreements in Algeria


06 February 2015

Petrofac has entered into two strategic contract agreements with Algerian state-owned Sonatrach. .....

Categories:   AFRICA   ALGERIA  

Petrofac awarded US$4 billion heavy oil project in Kuwait


20 January 2015

Petrofac has received an award notification for the first phase of Kuwait Oil Company’s (KOC) Lower Fars heavy oil development programme, which is located in the north of the country. .....

Categories:   MIDDLE EAST   KUWAIT  

Petrofac dives into help young Arbroath swimmers


24 December 2014

Petrofac dives into help young Arbroath swimmers .....

Categories:   EUROPE   ABERDEEN  

Petrofac staff raise £25,000 for Aberdeen neo-natal charity


24 December 2014

Petrofac staff raise 25000 for Aberdeen neo natal charity.....

Categories:   EUROPE   ABERDEEN  

Petrofac's enchanting funding for neo-natal unit


25 November 2014

Petrofac volunteers put in a towering effort to help raise £1,750 for an Aberdeen children’s charity at Crathes Castle this week......

Categories:   EUROPE   ABERDEEN  

Update on 2014 expectations and outlook for 2015


24 November 2014

Ayman Asfari, Petrofac’s Group Chief Executive, commented: “This has been a difficult period for Petrofac and the industry. The Board has analysed the potential impact of a lower oil price environment on our IES business and also made a critical assessment of our expectations for project delivery in 2015. In the main our project portfolio is in good shape, but it is clear that on a small number of projects our execution has fallen short of the high standards we set for ourselves. We have faced these difficulties and have taken robust action to address them and believe this leaves us on a surer footing for the future. “The foundations of the business remain strong. Our ECOM division is in very good shape, with good progress made on the resolution of a number of ECOM commercial settlements, a record level of backlog and an attractive pipeline of bidding opportunities. We are implementing clear and robust plans to improve project delivery and drive value from the IES contract portfolio. “I am confident that Petrofac will meet the challenges presented by certain projects in our portfolio and the medium-term growth prospects for our business remain strong.”.....

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