REG-Petrofac Limited: Comment on Press Speculation <PFC.L>
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01 February 2010
PETROFAC LIMITED
Comment on Press Speculation
Petrofac, the international oil & gas facilities service provider, has noted
press speculation concerning the possible demerger of its interests in the Don
area of the North Sea.
Petrofac has a strategy of creating value in assets held by its Energy
Developments unit by leveraging the capabilities of the group's services
businesses, and of harvesting that value, as and when appropriate. Options
with regard to individual assets are kept under regular review and if an
opportunity arises to crystallise value on attractive terms for our
shareholders, an announcement would be made at that time.
Should such a transaction take place, Petrofac remains committed to further
investment and value creation in its Energy Developments business.
Ends
Enquiries:
Tulchan Communications +44 20 7353 4200
James Bradley
Notes to Editors
Petrofac
Petrofac is a leading international provider of facilities solutions to the oil
& gas production and processing industry, with a diverse customer portfolio
including many of the world's leading integrated, independent and national oil
& gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC)
and is a constituent of the FTSE 100 Index.
The group delivers services through seven business units: Engineering &
Construction, Engineering & Construction Ventures, Engineering Services,
Offshore Engineering & Operations, Training Services, Production Solutions and
Energy Developments.
Through these businesses Petrofac designs and builds oil & gas facilities;
operates, maintains and manages facilities and trains personnel; enhances
production; and, where it can leverage its service capability, develops and
co-invests in upstream and infrastructure projects. Petrofac's range of
services meets its customers' needs across the full life cycle of oil & gas
assets.
With more than 11,000 employees, Petrofac operates out of five strategically
located operational centres, in Aberdeen, Sharjah, Woking, Chennai and Mumbai
and a further 19 offices worldwide. The predominant focus of Petrofac's
business is on the UK Continental Shelf (UKCS), the Middle East and Africa, the
Commonwealth of Independent States (CIS) and the Asia Pacific region.
For additional information, please refer to the Petrofac website at
www.petrofac.com.
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