RE: Neutral to positive27 Jun 2023 08:06
Petrofac said Tuesday that its order backlog is expected to increase significantly in the first half of 2023, while revenue in its engineering and construction unit is expected to fall, although it sees asset solutions revenue rising.
The London-listed provider of services to the energy industry said its order backlog is expected to rise significantly to around $5.6 billion at June 30, from $3.7 billion in the same period last year, reflecting strong order intake in both engineering and construction and asset solutions.