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Petrofac Company Profile
Petrofac, an international oilfield services provider, is registered in Jersey and headquartered on Jermyn Street, London. With operational centers in Aberdeen, Sharjah, Woking, Chennai, Mumbai, Delhi, Abu Dhabi, Saudi Arabia, and Kuala Lumpur, and 24 additional offices worldwide, the company is listed on the London Stock Exchange as a constituent of the FTSE 250 Index.
As a leading energy services company, Petrofac helps clients address the world’s evolving energy needs by utilizing their engineering expertise and consultancy experience to design, build, and operate safe, efficient, and low-emission energy facilities. They operate in various markets and work across the entire asset lifecycle, from design to decommissioning. Petrofac’s flexible commercial models, robust local delivery, and technology-neutral approach set them apart.
Attracting, retaining, and leading skilled and experienced personnel is crucial to Petrofac’s operations. Their distinctive, delivery-focused culture lies at the core of their offerings. Engineering excellence is central to their services, allowing them to design and build world-class energy facilities prioritizing safety and efficiency.
Although Petrofac’s heritage is in oil and gas, they are increasingly applying their skills, expertise, and best practices to a growing array of new energy sectors. Their core service offerings, which include designing, building, and operating complex energy infrastructure, are equally vital in the new energy sector as they are in upstream and refining.
Petrofac was established in 1981 as a producer of modular plants in Tyler, Texas, USA, and was first listed on the London Stock Exchange in 2005. In 2010, the company acquired a 20% share in the Gateway storage scheme, an undersea cavern for gas storage. In November 2013, Petrofac partnered with Italian oil firm Bonatti on a $650 million joint venture contract for Sonatrach, expanding their presence in Algeria. However, in November 2014, Petrofac issued a profit warning, stating that their profit for 2015 would fall by 25% due to slowing demand in China and increased US output.
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