Petrofac Limited Board Update (5274N)

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RNS Number : 5274N

Petrofac Limited

09 August 2017

9 August 2017

PETROFAC LIMITED

BOARD UPDATE

As part of the Company's ongoing commitment to, and focus on, compliance and ethics, Petrofac today announces that it has established a new Compliance and Ethics Committee of the Board. This Committee will be responsible for overseeing the Company's compliance and ethics programme, as well as the continued monitoring of the effectiveness of the Company's Code of Conduct and other Petrofac policies and standards in relation to compliance and ethics. These include the Standard for the Prevention of Bribery and Corruption and the Ethical, Social and Regulatory Risk Policy.

The Committee will comprise three Non-executive Directors - George Pierson as Committee Chairman, Andrea Abt and Matthias Bichsel.

The Company has also appointed Edward Sparrow as senior external specialist to oversee the Company's management of, and response to, the investigation by the UK Serious Fraud Office announced in May. Mr Sparrow is a partner in the international law firm, Ashurst LLP. He has considerable experience of liaising with regulators and prosecutors on behalf of clients.

Ends

For further information contact:

Petrofac Limited [phone]

Jonathan Low, Head of Investor Relations

Jonathan Edwards, Investor Relations Manager

   Alison Flynn, Group Head of Communications                                  [phone] 

Tulchan Communications Group LLP [phone]

Martin Robinson

[e-mail]

LEI 2138004624W8CKCSJ177

Notes to Editors

Petrofac

Petrofac is a leading international service provider to the oil & gas production and processing industry, with a diverse client portfolio including many of the world's leading integrated, independent and national oil & gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC).

Petrofac designs and builds oil & gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac's range of services meets its clients' needs across the full life cycle of oil & gas assets.

With around 13,500 employees, Petrofac operates out of seven strategically located operational centres, in Aberdeen, Sharjah, Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a further 24 offices worldwide.

This information is provided by RNS

The company news service from the London Stock Exchange

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August 09, 2017 06:00 ET (10:00 GMT)