Petrofac Regulatory News (PFC)

5 Mar 2007 07:05

Petrofac Limited05 March 2007 PETROFAC LIMITED DIRECTORATE CHANGE The Board of Petrofac, the international oil & gas facilities service provider,is recommending that shareholders approve the appointment of two additionalBoard directors at its Annual General Meeting to be held on 11 May 2007. Ifapproved by shareholders Amjad Bseisu, currently Chief Executive of Petrofac'sResources division, and Rijnhard van Tets would join the Board on 11 May 2007.Mr van Tets would join the Board as an independent non-executive director. Rodney Chase, Chairman of Petrofac, commented: "We would be delighted to welcomeRijnhard and Amjad to the Board of Petrofac. Rijnhard brings a wealth ofexperience from a senior career in investment banking and Amjad has a detailedunderstanding of the oil and gas market. I am sure both will make a valuablecontribution to the Board as Petrofac seeks to establish itself as the leadinginternational oil and gas services provider." Biography of Mr Bseisu Mr Bseisu (age 43) joined Petrofac in 1998 and founded the Resources' business.Mr Bseisu previously served on the Petrofac Board before stepping down prior tothe Company's admission to listing on The London Stock Exchange. Before joiningPetrofac, Mr Bseisu spent 14 years working for the Atlantic Richfield Company(ARCO) starting his career as senior engineer in the drilling and productiondivision and progressing through the organisation to become Head ofInternational Marketing, Negotiations and Business Development and president ofARCO Petroleum Ventures and ARCO Crude Training, Inc. Mr Bseisu is not currently on the board of any public company but in the pastfive years has served on the board of Stratic Energy Corporation and SericaEnergy Corporation. Biography of Mr van Tets Mr van Tets (age 59) brings a wealth of corporate experience to the Board from acareer in investment banking. He is currently an adviser to the managing boardof ABN AMRO having previously served as a member of the managing board from 1990to 2002. Mr van Tets occupied a number of senior executive positions at ABNAMRO, most recently as Chairman of its Wholesale Clients and Investment BankingGroup between 1996 and 2002. Mr van Tets is currently non-executive chairman of the boards of Wegener N.V.,Arcadis N.V., Euronext Amsterdam N.V. and Equity Trust Holdings. In addition, heis a non-executive director of Euronext N.V., IFF Europe and StichtingAdministratiekantoor Buhrmann N.V. In accordance with Listing Rule 9.6.15, it is confirmed that there are nodetails to be disclosed pursuant to Listing Rule 9.6.13. Ends For further information, contact: Petrofac Limited +44 (0) 20 7811 4900Ayman Asfari, Group Chief ExecutiveKeith Roberts, Chief Financial OfficerJonathan Low, Head of Investor Relations Bell Pottinger Corporate & Financial +44 (0) 20 7861 3232Ann-marie WilkinsonGeoff Callow Notes to Editors Petrofac Petrofac is a leading international provider of facilities solutions to the oiland gas production and processing industry, with a diverse client portfolioincluding many of the world's leading integrated, independent and national oiland gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC)and is a constituent of the FTSE 250 Index. Through its three divisions, Engineering & Construction, Operations Services andResources, Petrofac designs and builds oil and gas facilities; operates,maintains or manages facilities and trains personnel; and, where return criteriaare met and service revenue synergies identified, co-invests with clients andpartners. Petrofac's range of services allows it to help meet its clients' needsacross the life cycle of oil and gas assets. With approximately 8,000 employees, Petrofac operates out of four strategicallylocated international centres, in Aberdeen, Sharjah, Woking and Mumbai and afurther 13 offices worldwide. The predominant focus of Petrofac's business ison the UK Continental Shelf (UKCS), Africa, the Middle East, the Commonwealth ofIndependent States (CIS) and the Asia Pacific region. For additional information, please refer to the Petrofac website atwww.petrofac.com. This information is provided by RNS The company news service from the London Stock Exchange