Financial restructure: Update on court process

Further to its release on 24 February 2025, a court hearing for Petrofac’s planned financial restructuring took place today.

The Convening Hearing has adjourned to either 20 or 21 March 2025 and, recognising the urgent but complex nature of the transaction, the court outlined its intention to shortly set out an expedited timetable which enables the Sanction Hearing to conclude in mid-April 2025. 

The Company will continue to update stakeholders as appropriate and in line with its disclosure obligations, including provision of dates for the forthcoming General and Creditor Meetings.