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.