Petrofac Regulatory News (PFC)

Press Release

 

 

15 March 2021

 

UPDATE ON UAE

 

Petrofac Ltd announces it has today been notified by ADNOC Group that it has been suspended from competing for new awards until further notice. This follows the SFO's announcement of additional pleas in January by a former Petrofac employee under the Bribery Act 2010 in relation to historic contract awards in the UAE in 2013 and 2014.

 

Petrofac will continue to execute two EPC projects for ADNOC currently under construction. ADNOC has stated that it recognises the long-standing nature of its relationship with Petrofac and has confirmed that its decision will be reviewed on a periodic basis.

 

Petrofac is committed to operating at the highest standards of ethical business practice. No charges have been brought against any Petrofac Group company or any current officer or employee.

 

ENDS

 

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016.

 

 

For further information contact:

 

Petrofac Limited 

+44 (0) 20 7811 4900

 

Jonathan Yarr, Head of Investor Relations

jonathan.yarr@petrofac.com

 

Aaron Clark, Investor Relations & Communications Manager

aaron.clark@petrofac.com

 

Alison Flynn, Group Head of Communications

alison.flynn@petrofac.com

 

Tulchan Communications Group

+44 (0) 20 7353 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 six values - safe; ethical; innovative; responsive; quality & cost conscious; driven to deliver - 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 11,500 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