Last checked at 9 Aug 2017 11:00
9 August 2017
PETROFAC LIMITED
BOARD UPDATE
As part of the Company's ongoing commitment to, and focus on, compliance and ethics, Petrofac today announces that it has established a new Compliance and Ethics Committee of the Board. This Committee will be responsible for overseeing the Company's compliance and ethics programme, as well as the continued monitoring of the effectiveness of the Company's Code of Conduct and other Petrofac policies and standards in relation to compliance and ethics. These include the Standard for the Prevention of Bribery and Corruption and the Ethical, Social and Regulatory Risk Policy.
The Committee will comprise three Non-executive Directors - George Pierson as Committee Chairman, Andrea Abt and Matthias Bichsel.
The Company has also appointed Edward Sparrow as senior external specialist to oversee the Company's management of, and response to, the investigation by the UK Serious Fraud Office announced in May. Mr Sparrow is a partner in the international law firm, Ashurst LLP. He has considerable experience of liaising with regulators and prosecutors on behalf of clients.
Ends
For further information contact:
Petrofac Limited +44 (0) 207 811 4900
Jonathan Low, Head of Investor Relations
Jonathan Edwards, Investor Relations Manager
Alison Flynn, Group Head of Communications +44 (0) 207 811 4913
Tulchan Communications Group LLP +44 (0) 207 353 4200
Martin Robinson
petrofac@tulchangroup.com
LEI 2138004624W8CKCSJ177
Notes to Editors
Petrofac
Petrofac is a leading international service provider to the oil & gas production and processing industry, with a diverse client portfolio including many of the world's leading integrated, independent and national oil & gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC).
Petrofac designs and builds oil & 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 & gas assets.
With around 13,500 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.