"We have delivered a strong first half. I am particularly pleased with the continued high operating efficiency from our producing portfolio which has enabled us to reduce our debt by $180 million. This puts us in good stead to meet our debt reduction target for the full year, which remains a top priority for the Group. In addition, we have retained significant optionality with our future developments and an extremely attractive exploration portfolio which together offer substantial upside exposure."
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Petrofac surged on reports that the Serious Fraud Office had dropped a criminal investigation into three businessmen who had been accused of conspiring to make corrupt payments to secure contracts in Iraq. The SFO launched an investigation into Petrofac in May 2017 as part of a wider probe into Unaoil, a Monaco-based oil consultancy.