Petrofac Regulatory News (PFC)

Press Release

14 December 2017

BOARD CHANGES

Petrofac Ltd ("Petrofac" or "the Company") today announces that its Chairman Rijnhard van Tets has notified the Board of his intention to step down from the Board at the May 2018 Annual General Meeting after an 11-year tenure. He will be succeeded upon his departure by current Senior Independent Director René Médori.

Mr van Tets joined the Board in 2007, serving as a Non-executive Director prior to being appointed Chairman in 2014. Mr Médori, who joined as a Non-executive Director in 2012, has recently relinquished his executive role as Finance Director of Anglo American plc.

Mr van Tets said: "After a long tenure I have made the decision to step down at next year's AGM. I would like to thank my fellow Board members for their support, and the Executive Directors for their continued commitment to the business during the past 11 years.

"I am delighted that the Board has been able to appoint an internal candidate of René's calibre. His wide international experience and understanding of multi-national businesses, well-established governance knowledge, and understanding of the regulatory landscape, provides an important level of continuity."

Mr Médori said: "On behalf of the Board I would like to thank Rijnhard for his strong leadership and commitment to Petrofac. His experience through this time has been invaluable. I am delighted to be taking up the role of Chairman next year and excited about the prospect of working with the management team to take the business forward."

The appointment of a new Senior Independent Director will be announced in due course.

Committee changes

As a result of the above-noted changes, further changes to Nominations, Remuneration and Audit committees will be advised in due course.

There are no additional disclosures in respect of paragraph 9.6.13 (1) to (6) of the FCA Listing Rules.

Ends

For further information contact:

Petrofac Limited

+44 (0) 207 811 4900

Jonathan Low, Head of Investor Relations

jonathan.low@petrofac.com

Alison Flynn, Group Head of Communications

alison.flynn@petrofac.com 

+44 (0) 207 811 4913

Tulchan Communications Group

+44 (0) 207 353 4200

petrofac@tulchangroup.com

Andrew Grant

Martin Robinson

NOTES TO EDITORS

Petrofac

Petrofac is a leading international service provider to the oil and gas production and processing industry, with a diverse client portfolio including many of the world's leading integrated, independent and national oil and gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC).

Petrofac designs and builds oil and gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac's range of services meets its clients' needs across the full life cycle of oil and gas assets.

With around 13,000 employees, Petrofac operates out of seven strategically located operational centres, in Aberdeen, Sharjah, Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a further 24 offices worldwide.

For additional information, please refer to the Petrofac website at www.petrofac.com.