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Petrofac Ltd (PFC.L)

PFC.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Petrofac wins Sakhalin contract worth more than $700 mln
Wednesday, 6 Sep 2017 02:00am EDT 

Sept 6 (Reuters) - PETROFAC LTD ::PETROFAC AWARDED CONTRACT ON SAKHALIN ISLAND.BEEN AWARDED A CONTRACT WORTH MORE THAN US$700 MILLION BY SAKHALIN ENERGY INVESTMENT COMPANY LTD.CONTRACT FOR ITS ONSHORE PROCESSING FACILITY (OPF) ON SAKHALIN ISLAND.  Full Article

Petrofac secures 340 mln euro EPC contract with unit of Gazprom
Tuesday, 5 Sep 2017 02:32am EDT 

Sept 5 (Reuters) - Petrofac Ltd :AWARDED EPC CONTRACT, VALUED AT APPROXIMATELY 340 MILLION EUROS, WITH SOUTH STREAM TRANSPORT B.V., UNIT OF GAZPROM.WILL PROVIDE ENGINEERING, PROCUREMENT AND CONSTRUCTION FOR RECEIVING TERMINAL, WHICH WILL BE READY FOR COMMERCIAL OPERATIONS IN DECEMBER 2019.PETROFAC TO BUILD GAS RECEIVING TERMINAL IN TURKEY.  Full Article

Petrofac posts HY net profit of $158 million
Wednesday, 30 Aug 2017 02:00am EDT 

Aug 30 (Reuters) - PETROFAC LTD ::INTERIM DIVIDEND 0.127 USD PER SHARE.HALF YEAR NET PROFIT 158 MILLION USD.HY TOTAL REVENUE $3,126 MILLION VERSUS $3,888 MILLION."GROUP HAS SECURED US$2.7 BILLION OF NEW ORDERS IN YEAR TO DATE, EVIDENCE OF OUR CONTINUED COMPETITIVENESS IN CHALLENGING MARKETS"."TENDERING ACTIVITY REMAINS HIGH, WE ARE WELL PLACED ON A NUMBER OF BIDS AND HAVE A HEALTHY ORDER BACKLOG. THIS POSITIONS US WELL FOR SECOND HALF OF 2017".GROUP BACKLOG WAS US$12.5 BILLION AS AT 30 JUNE 2017 (31 DECEMBER 2016: US$14.3 BILLION).NET DEBT WAS US$1.0 BILLION AS AT 30 JUNE 2017 (31 DECEMBER 2016: US$0.6 BILLION) PRINCIPALLY REFLECTING WORKING CAPITAL MOVEMENTS.ORDER BACKLOG OF US$12.5 BILLION AT 30 JUNE 2017.  Full Article

Petrofac sells stake in Pánuco contract
Tuesday, 22 Aug 2017 02:00am EDT 

Aug 22 (Reuters) - Petrofac Ltd ::PETROFAC SELLS STAKE IN PÁNUCO CONTRACT.SAYS PETROFAC HAS SOLD ITS 50% INTEREST IN PETRO-SPM INTEGRATED SERVICES S.A. DE C.V TO SCHLUMBERGER​.TOTAL POTENTIAL CONSIDERATION IN LINE WITH NET BOOK VALUE OF PETROFAC'S INTEREST, COMPRISES CASH ON COMPLETION AND DEFERRED CONSIDERATION.TRANSACTION WAS COMPLETED ON AUGUST 15, 2017.  Full Article

Petrofac names Edward Sparrow as external specialist to oversee SFO probe
Wednesday, 9 Aug 2017 06:00am EDT 

Aug 9 (Reuters) - Petrofac Ltd ::HAS ESTABLISHED A NEW COMPLIANCE AND ETHICS COMMITTEE OF BOARD.COMMITTEE WILL COMPRISE THREE NON-EXECUTIVE DIRECTORS - GEORGE PIERSON AS COMMITTEE CHAIRMAN, ANDREA ABT AND MATTHIAS BICHSEL.HAS ALSO APPOINTED EDWARD SPARROW AS SENIOR EXTERNAL SPECIALIST TO OVERSEE COMPANY'S MANAGEMENT OF, AND RESPONSE TO, INVESTIGATION BY UK SFO.  Full Article

Petrofac, Samsung Engineering JV awarded $2 bln contract in Oman
Friday, 4 Aug 2017 06:10am EDT 

Aug 4 (Reuters) - Petrofac Ltd :PETROFAC AWARDED DUQM REFINERY PROJECT.IN A 50/50 JOINT VENTURE WITH SAMSUNG ENGINEERING, HAS RECEIVED NOTIFICATION OF INTENT TO AWARD A CONTRACT WORTH APPROXIMATELY US$2 BILLION.WORK ON 47-MONTH PROJECT WILL COMMENCE SHORTLY, SUBJECT TO FINANCIAL CLOSURE AND FULL NOTICE TO PROCEED FROM DRPIC.JV CONTRACT WITH DUQM REFINERY AND PETROCHEMICAL INDUSTRIES LLC (DRPIC) IN SOUTHERN PART OF OMAN.  Full Article

Petrofac sees underlying net profit for H1 2017 between $135-$145 mln
Tuesday, 27 Jun 2017 02:00am EDT 

June 27 (Reuters) - Petrofac Ltd ::Underlying net profit for first half of 2017 expected to be $135 million to $145 million.Full year net profit is expected to be weighted to second half of year.Pre-Close trading update ahead of announcement of its half year results for six months ending 30 June 2017 on 30 august 2017.New order intake of us$1.7 billion in year to date.Backlog of $13.0 billion at 31 may 2017.Net debt is forecast to be around $1.1 billion at 30 June 2017 in line with expectations."Core business continues to trade in line with expectations and we remain competitive, securing new contract awards in both our E&C and EPS divisions" - CEO."high level of tendering activity is evidence of greater confidence in our core markets and we continue to have a very good pipeline of bidding opportunities" - CEO.In IES, h1 2017 performance impacted by lower realised oil prices, lower capital investment in Mexico and delayed entry onto Greater Stella area development Licence.  Full Article

Petrofac Ltd secures Kuwait training contract
Tuesday, 13 Jun 2017 02:00am EDT 

June 13 (Reuters) - Petrofac Ltd ::Secures Kuwait training contract.‍contract, which is valued at more than $35 million​.  Full Article

Petrofac gets long-term framework deal with Petroleum Development Oman
Thursday, 8 Jun 2017 02:00am EDT 

June 8 (Reuters) - Petrofac Ltd :Gets long-term framework agreement with petroleum development oman for engineering, procurement and construction management support services.Agreement is for ten years with an additional five-year option.Agreement builds upon three-year programme of ep+cm support contract delivery Petrofac has undertaken on behalf of PDO​.  Full Article

Petrofac awarded floating wind turbine study
Thursday, 1 Jun 2017 07:07am EDT 

June 1 (Reuters) - Petrofac Ltd ::‍Award of a research project by Carbon Trust's floating wind joint industry project​.‍Under agreement, Petrofac will investigate key electrical system challenges associated with large scale floating wind farms​.  Full Article

Italy watchdog fines Petrofac CEO for alleged insider trading on Saipem shares

MILAN, Aug 31 Italian market watchdog Consob has imposed fines on Petrofac CEO Ayman Asfari and former Saipem CEO Pietro Franco Tali for alleged insider trading in Saipem shares in 2012, a Consob document said.