Petrofac Regulatory News (PFC)

Press Release

7 October 2021

GAZPROM AND PETROFAC CREATE STRATEGIC PARTNERSHIP

Gazprom and Petrofac have today signed a strategic partnership through Gazprom's INTI - Russian Institute Oil/Gas Technology Initiatives to export and promote the ambition, quality, and standards of the Russian energy industry domestically and internationally.

Under a five-year Memorandum of Cooperation (MOC), signed by Mr Vitaly Anatolevich Markelov, Deputy Chairman Management, and Member of the Board of Gazprom, and Petrofac Group Chief Executive Sami Iskander, the parties will collaborate to drive industry standardisation and sustainable development, as Russia's energy sector seeks to encourage industry participation by international companies in its drive to expand at home and abroad.

Initially Petrofac will support the defining and developing pre-qualification and qualification criteria for local suppliers and local manufacturers, assessing conformation with industry standards, and developing use of local manufacturers' products in existing and future projects within the Russian Federation and OPEC+ countries.

Petrofac aims to build its credentials as a Russian EPC champion, engaging the strength and capabilities of Russia's supply chain, technology providers, and energy institutions to deliver both inside Russia and the wider region.

Mr Iskander said: "Delivering locally to global standards is key to Petrofac's strategy and unlocks in-country value for all stakeholders, wherever we operate. Russia is a hugely exciting growth market that's aligned to our core capabilities. We are proud to leverage our expertise in procurement and local operations to develop, champion, and support Russian engineering capacity, contractors, technologies and tools in support of the industry's future development."

Russia comprises a large market opportunity for Petrofac. Petrofac has been in the country since 1993, with offices in Moscow and Sakhalin Island, where we have been present since 2006 through our Sakhalin Technical Training Centre, which has trained 23,000+ delegates in the last five years. We extended our presence on the island in 2017 when we were awarded a contract by Sakhalin Energy for its onshore processing facility.

ENDS

For further information contact:

Petrofac Limited 

+44 (0) 207 811 4900

Jonathan Yarr, Head of Investor Relations

jonathan.yarr@petrofac.com

Tulchan Communications Group

+44 (0) 207 353 4200

petrofac@tulchangroup.com

Martin Robinson

NOTES TO EDITORS

Petrofac

Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world's leading energy companies.

Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world's evolving energy needs. Our four values - driven, agile, respectful and open - are at the heart of everything we do.

Petrofac's core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, South East Asia and the United States. We have 9,400 employees based across 31 offices globally.

Petrofac is quoted on the London Stock Exchange (symbol: PFC).

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