Petrofac Limited Report on Payments to Govts (amended) (5508L)

TIDMPFC

RNS Number : 5508L

Petrofac Limited

03 October 2016

Petrofac Limited

(the Company)

Reports on Payments to Governments for the year ended 31 December 2015 (amended)

Petrofac today provides an update to information originally published on 24 June 2016, in accordance with DTR 4.3A, in respect of payments made by the Company to governments for the year ended 31 December 2015, and in compliance with The Reports on Payments to Governments Regulations 2014 (SI 2014/3209).

The following schedules clarify the payments made by Petrofac Limited and its subsidiary undertakings to the Malaysia and Tunisian governments in relation to operating oil and gas fields to which the business had an interest during the reporting period:

 
 Malaysia 
-------------------  -----------  -----------  -----------  -----------  ----------- 
 Project Report 
                        Taxes           Royalties(2)            Fees        Total 
                     -----------  ------------------------  -----------  ----------- 
                                       Volume        Value 
                      US$'000(1)    '000 bbls   US$'000(1)   US$'000(1)   US$'000(1) 
                     -----------  -----------  -----------  -----------  ----------- 
 
 PM304                         -        1,573        9,825        1,253       11,078 
 Berantai                  1,555            -            -            -        1,555 
                     -----------  -----------  -----------  -----------  ----------- 
 Total                     1,555        1,573        9,825        1,253       12,633 
 
 Government Report 
                        Taxes           Royalties(2)            Fees        Total 
                     -----------  ------------------------  -----------  ----------- 
                                       Volume        Value 
                      US$'000(1)    '000 bbls   US$'000(1)   US$'000(1)   US$'000(1) 
                     -----------  -----------  -----------  -----------  ----------- 
 
 Inland Revenue 
  Board                    1,555            -            -            -        1,555 
 PETRONAS                      -        1,573        9,825        1,253       11,078 
                     -----------  -----------  -----------  -----------  ----------- 
 Total                     1,555        1,573        9,825        1,253       12,633 
 
 
 
 Tunisia 
------------------------------  -----------  ----------  -----------  -----------      ----------- 
 Project Report 
                                   Taxes           Royalties(2)           Fees            Total 
                                -----------  -----------------------  -----------      ----------- 
                                                 Volume        Value 
                                 US$'000(1)   '000 bbls   US$'000(1)   US$'000(1)       US$'000(1) 
                                -----------  ----------  -----------  -----------      ----------- 
 
 Chergui                              9,910           5        2,947            6           12,863 
                                -----------  ----------  -----------  -----------      ----------- 
 Total                                9,910           5        2,947            6           12,863 
 
 Government Report 
                                                                                          Total 
                                   Taxes           Royalties(2)           Fees           Payments 
                                -----------  -----------------------  -----------      ----------- 
                                                 Volume        Value 
                                 US$'000(1)   '000 bbls   US$'000(1)   US$'000(1)       US$'000(1) 
                                -----------  ----------  -----------  -----------      ----------- 
 
 L'Entreprise 
  Tunisienne d'Activités 
  Pétrolières                   -           5          273                -          273 
 Monsieur le Receveur 
  des Finances 
  du Lac                              9,910           -        2,674            6           12,590 
                                -----------  ----------  -----------  -----------      ----------- 
 Total                                9,910           5        2,947            6           12,863 
 
 

Notes:

   1.   Payments made in local currencies are translated at the average exchange rate for the year. 

2. Certain royalty payments are made in kind, the value of which is calculated with reference to market rates at the time of payment.

3. In line with the UK Regulations, where a payment or a series or related payments have not exceeded GBP86,000, they have not been disclosed

4. No other businesses within the Petrofac Group are impacted by this legislation and its reporting requirements.

For further information contact:

Petrofac

   Alison Flynn                                                      [phone] 

Group Head of Communications Petrofac [e-mail]

   Jonathan Low                                                    [phone] 
   Head of Investor Relations                                   [e-mail] 
   Tulchan Communications Group LLP                   [phone] 
   Martin Robinson                                                 [e-mail] 

Stephen Malthouse

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 19,000 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.

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

This information is provided by RNS

The company news service from the London Stock Exchange

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October 03, 2016 11:05 ET (15:05 GMT)