Petrofac Company News
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Petrofac Mulls Offshore Oil Asset Sale in Malaysia
Friday, December 06, 2019 Petrofac Ltd., the U.K.-listed oilfield service provider, is weighing a sale of its Malaysian assets for about $300 million.
Petrofac Breaks Into Permian Shale Market with Latest Acquisition
Wednesday, November 20, 2019 International oilfield services provider Petrofac Limited announced Wednesday that it has entered into the world's largest producing basin with the acquisition of W&W Energy Services.
Petrofac Sells its Remaining Mexico Assets
Thursday, September 19, 2019 Petrofac exits its Mexico operations with a sale of its ownership in three fields to Perenco.
Petrofac Wins Offshore UAE Contract
Monday, July 29, 2019 A Petrofac-NPCC JV has won a contract from an ADNOC-CNPC JV.
Iraq And Petrofac Sign $369MM Deal To Build Majnoon Crude-Processing Plant
Monday, August 13, 2018 Iraq signs a $369 million contract with Petrofac to build a new crude-processing facility in the giant Majnoon oilfield.
Petrofac To Sell 49% Of Mexican Operations
Monday, July 30, 2018 Petrofac says it agreed to sell 49% of its operations in Mexico to Perenco (Oil & Gas) International Ltd.
Petrofac Extends North Sea Contract with Chevron
Thursday, October 05, 2017 Oilfield services company Petrofac Ltd said its North Sea engineering services contract with a unit of Chevron Corp had been extended for 12 months.
Petrofac JV Awarded $2B Refinery Contract In Oman
Friday, August 04, 2017 Petrofac says Oman's Duqm Refinery and Petrochemical Industries awarded a $2 billion contract to the British oilfield services company's 50:50 joint venture with Samsung Engineering.
Petrofac Makes 29% Headcount Reduction, Revenue Hits $7.8B
Wednesday, February 22, 2017 Petrofac makes a headcount reduction of 29% to around 13,500 employees, the oilfield services firm reveals in its final results for 2016.
Petrofac Secures BP North Sea Services Contract Extension
Monday, February 06, 2017 Oilfield services firm Petrofac secures a 3 year extension to a maintenance services contract with BP in the North Sea.
Petrofac Says Services Business Sees Higher Bidding Activity
Thursday, December 15, 2016 Petrofac Ltd said deferral and cancellation of projects hurt order intake at its biggest unit this year, but the recovery in oil prices has helped improve bidding activity for services contracts.
Petrofac Halting Tunisia Gas Production Again Due To Protests
Wednesday, December 14, 2016 Petrofac is halting gas production in Tunisia after two weeks of renewed protests on the southern Kerkennah islands, the company said on Wednesday.
Petrofac Secures SOC Services Contract in Iraq
Wednesday, December 14, 2016 Petrofac has secured a contract worth $75 million from South Oil Company (SOC) for its Iraq Crude Oil Export Expansion Project (ICOEEP).
Petrofac Secures Mubadala Petroleum Services Contracts
Monday, October 31, 2016 Petrofac secures new and modified contracts from Mubadala Petroleum relating to the FPF-003 floating production, storage and offloading vessel located in the Jasmine/Ban Yen field in the Gulf of Thailand.
Petrofac Appoints New CFO
Friday, October 21, 2016 Oilfield services company Petrofac Limited has appointed Alastair Cochran as the company's new chief financial officer and executive director, succeeding Tim Weller.
Petrofac Resumes Operations In Tunisia After Protester Deal
Wednesday, September 28, 2016 Petrofac resumes its operations in Tunisia after the government reaches a deal with protesters who had disrupted gas production for nine months.
Petrofac, Tecnicas Reunidas Likely To Win Saudi Aramco Deals
Tuesday, August 16, 2016 Petrofac and Tecnicas Reunidas are likely to win contracts to build projects for state oil giant Saudi Aramco's Uthmaniyah and Ras Tanura plants, industry sources say.
G4S Names Petrofac's Tim Weller as CFO
Monday, August 15, 2016 G4S names Tim Weller as its new chief financial officer, poaching him from oilfield services company Petrofac where he held the same role.
Ithaca Says Stella Production Facility Undergoing Sea Trials
Friday, July 22, 2016 The FPF-1 floating production facility, which is destined for the Stella field in the central North Sea, has left the Gdansk shipyard and is now undertaking final marine system trials.
PETRONAS Reaches Deal with SapuraKencana, Petrofac for Berantai
Monday, July 11, 2016 PETRONAS reaches deal with SapuraKencana and Petrofac for the cessation of the Berantai Risk Service Contract located offshore Terangganu, Malaysia.
Repsol Sinopec Awards Major North Sea Services Contracts
Monday, July 11, 2016 Repsol Sinopec Resources UK approves the award of major new services contracts in the North Sea.
Ezra Sells 80% Interest in Lewek EMAS FPSO to PetroFirst for $166.35M
Monday, July 04, 2016 Singapore's Ezra agrees to sell stake 80 percent stake in PV Keez, owner of the Lewek EMAS floating production storage and offloading vessel, to PetroFirst Infrastructure 2 for $166.35 million.
Petrofac Secures Contract from Bumi Armada for Olombendo FPSO
Monday, June 13, 2016 Petrofac secures a three year contract from Bumi Armada for the Olombendo floating production, storage and offloading unit, currently under conversion in Singapore.
Petrofac Secures 3-Year North Sea Services Contract Extension
Thursday, May 19, 2016 Petrofac secures a 3-year services contract extension from Total E&P UK to provide support for the Alwyn and Dunbar platforms in the Northern North Sea.
Petrofac Secures Services Contract Offshore Aberdeen
Friday, March 11, 2016 Petrofac secures a 'duty holder' contract worth $250 million, which will see it support Anasuria Operating Company Limited as the company takes over as license operator of the Anasuria cluster offshore Aberdeen.
Petrofac Bucks Oilfield Services Downturn with Record Order Book
Wednesday, February 24, 2016 UK oilfield services firm Petrofac bucks the downturn in its sector and posts a record order book.
Ithaca Sees Production Doubling in 2016 on Stella Start-Up
Tuesday, January 12, 2016 Ithaca Energy sees its production more than doubling to 25,000 barrels per day by the end of 2016 thanks to the start-up of the Greater Stella Area development during the third quarter.
Petrofac Expects Loss at Energy Services Unit in 2016
Tuesday, December 15, 2015 UK oilfield services firm Petrofac says its integrated energy services division will post a loss in 2016 due to the slump in oil prices.
Petrofac Secures Contract Extensions with Two Key UKCS Customers
Monday, December 14, 2015 Oilfield services firm Petrofac secures $400 million worth of contract extensions with two key customers on the UK Continental Shelf.
Middle East Deals See Rig Builder Lamprell Boost Workforce
Friday, November 27, 2015 Lamprell boosts its workforce by 1,500 to help it meet increased activity in the Middle East.
Petrofac Bags EPC Contract for Saudi Aramco's Fadhili Gas Program
Tuesday, November 17, 2015 Petrofac bags an engineering, procurement and construction contract from Saudi Aramco for Fadhili gas program in Saudi Arabia.
Energy Firms Team Up to Cut North Sea Costs
Wednesday, November 04, 2015 Petrofac, Faroe Petroleum and Eni Hewett establish a cost saving partnership to drive efficiencies and commercial synergies across their UK operations in the Southern North Sea.
Petrofac Celebrates Sail-Away of First Modules to ZADCO's Upper Zakum Field
Tuesday, October 27, 2015 Petrofac celebrates the successful sail-away of the first two modules for ZADCO's Upper Zakum development offshore Abu Dhabi, United Arab Emirates.
China's ZPMC Challenges Petrofac Over Termination of Vessel Building Deal
Monday, October 19, 2015 China's Shanghai Zhenhua Heavy Industries Co. will defend its legal rights pertaining to Petrofac's cancellation of a contract to build a deepwater multi-purpose offshore vessel.
Petrofac Wins Shell Iraq Training Contract
Tuesday, October 13, 2015 Petrofac wins a multi-million dollar contract to supply training services to Shell Iraq.
Petrofac Terminates Construction Vessel Building Deal with China's ZPMC
Friday, October 09, 2015 Petrofac terminates a contract with China's Shanghai Zhenhua Heavy Industry to build the Petrofac JSD 6000 deepwater construction vessel.
Sources: Tecnicas and Petrofac Selected to Build $4.7B Saudi Gas Project
Tuesday, September 15, 2015 Spain's Tecnicas Reunidas and the UK's Petrofac win $4.7 billion of contracts to build the Fadhili gas plant in Saudi Arabia.
Oil Servicers Say 'Fat Trimming' Will Become New Norm
Friday, September 11, 2015 A slump in oil prices is forcing the oil and gas services industry to trim costs in a way that executives say will create a lasting change.
Petrofac Posts Net Loss of $133M in 1H 2015
Tuesday, August 25, 2015 Petrofac reveals a net loss of $133 million for the six month period ended June 30, 2015.
PTS Warns UK Seafarers to be Prepared for Regulatory Changes
Tuesday, July 28, 2015 Petrofac Training Services warns UK seafarers to be prepared for upcoming changes to the Standards of Training, Certification and Watchkeeping, which are due to come into force on January 1, 2017.
Petrofac Bags $780M EPC Contract from Kuwait Oil Company
Friday, July 10, 2015 Petrofac bags a $780 million engineering, procurement and construction contract from Kuwait Oil Company for a manifold group trunkline system in the north of Kuwait.
Petrofac Expects Full Year Profit to be Weighted Towards H2
Tuesday, June 23, 2015 Petrofac expects its net profit for the year to be weighted towards the second half and states that its order book at the end of May had grown to $20.5 billion.
Petrofac Secures $400M of Repeat UK Orders
Friday, June 19, 2015 Oilfield services firm Petrofac secures $400 million of contract renewals for operations and maintenance work on the UK Continental Shelf.
Petrofac Secures Services Contract with PDO in Oman
Thursday, June 11, 2015 Petrofac secures an engineering and procurement contract with Petroleum Development Oman to provide services for the Yibal Khuff project, located southwest of Muscat.
Petrofac Secures Contract to Support ONE in Southern North Sea
Thursday, June 04, 2015 Petrofac secures contract to support Oranje-Nassau Energie (ONE) UK Limited, following the Oranje-Nassau Energie B.V. subsidiary's announcement that it has become the operator of the Sean gas field in Southern North Sea.
UK's Oil Services Firms To Cut Jobs To Ride Out Price Slump
Tuesday, April 28, 2015 Amec Foster Wheeler and Petrofac join a growing list of London-listed oil and gas support services companies planning to cut jobs in response to the tumble in oil prices.
Laggan-Tormore Project Causes More Woe for Petrofac
Monday, April 20, 2015 Petrofac incurs a further $195 million loss after adverse weather conditions and industrial action cause delays on the Laggan-Tormore gas plant project in the Shetlands.
Petrofac Bags Integrity, Maintenance Contract for Ichthys LNG Project
Thursday, April 09, 2015 Petrofac bags an integrity and maintenance program development contract from Inpex for the Ichthys liquefied natural gas project offshore Western Australia.
Petrofac FY Net Profit Falls, Order Book Grows
Wednesday, February 25, 2015 Oilfield services firm Petrofac reports a fall in 2014 net profit due to overruns on two major projects.
Petrofac Wins Two Deals with Algeria's Sonatrach
Friday, February 06, 2015 Petrofac wins two strategic services agreements with Algerian state-owned oil firm Sonatrach.