News

05 February 2018

Board update on UK Serious Fraud Office investigation

The Board of Petrofac Ltd (“Petrofac”) today provides an update on the investigation into the Company by the UK Serious Fraud Office (SFO), announced on 12 May 2017. The investigation is wide ranging in time and scope, and relates to the activities of Petrofac, its subsidiaries, and their officers, employees and agents for suspected bribery, corruption, and/or money laundering.

The Company continues to engage with the SFO. This engagement has involved and is expected to continue to involve the interview of Directors of the Company, including the Chairman, Executive Directors and Non-Executive Directors, as well as employees, either under Section 2 of the Criminal Justice Act or under caution. In addition, the Company has provided and will continue to provide relevant documents to the SFO.

No further comment will be made on the basis that this may prejudice an ongoing investigation. We also do not anticipate providing further updates on this matter.

Since the events of last year the Board and management have worked together to ensure safe and reliable delivery for clients and secure new orders, whilst at the same time responding as constructively as possible to the SFO investigation.

Separately, the Company will announce its Full Year results for the year ending 31 December 2017 on 1 March 2018.

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