August 29, 2018 / 6:19 AM / a month ago

UK's Petrofac posts H1 loss vs year-earlier profit, wins $600 mln contract

Aug 29 (Reuters) - British oilfield services provider Petrofac Ltd reported a net loss in the first half compared with a year-earlier profit, hurt by a more than $200 million expense related to the sale of some oil-producing assets.

Petrofac said separately it won a contract worth $600 million at Algerian state-owned company Sonatrach to provide engineering, procurement and construction services in the North African country.

Petrofac reported a net loss of $17 million in the six months ended June 30, compared with a profit of $70 million a year earlier.

Reporting by Muvija M in Bengaluru; Editing by Sai Sachin Ravikumar

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