Petrofac


Petrofac Limited is a provider of oilfield services to the international oil and gas industry. It is registered in Jersey, with its main corporate office on Jermyn Street, London. It has operational centres in Aberdeen, Sharjah, Woking, Chennai, Mumbai, Delhi, Abu Dhabi, Saudi Arabia and Kuala Lumpur. There are another 24 offices in various countries. The company is quoted on the London Stock Exchange, and is a constituent of the FTSE 250 Index.

History

The company was established as a producer of a modular plant in Tyler, Texas, United States in 1981. It was first listed on the London Stock Exchange in 2005. In 2010, it bought a 20 percent share in the Gateway storage scheme, an undersea cavern for gas storage. In November 2013, Petrofac and the Italian oil firm Bonatti partnered on a $650 million joint venture contract for Sonatrach, adding to the firm’s already significant presence in Algeria. In November 2014, the company issued a profit warning, saying that profit for 2015 will fall by 25%, as slowing demand in China and abundant US output cuts the oil price.

Services

Petrofac is organised into three divisions: