Petrofac Limited Board update (8848D)

TIDMPFC

RNS Number : 8848D

Petrofac Limited

05 February 2018

Press Release

5 February 2018

BOARD UPDATE ON UK SERIOUS FRAUD OFFICE INVESTIGATION

The Board of Petrofac Ltd ("Petrofac") today provides an update on the investigation into the Company by the UK Serious Fraud Office (SFO), announced on 12 May 2017. The investigation is wide ranging in time and scope, and relates to the activities of Petrofac its subsidiaries, and their officers, employees and agents for suspected bribery, corruption, and/or money laundering.

The Company continues to engage with the SFO. This engagement has involved and is expected to continue to involve the interview of Directors of the Company, including the Chairman, Executive Directors and Non-Executive Directors, as well as employees, either under Section 2 of the Criminal Justice Act or under caution. In addition, the Company has provided and will continue to provide relevant documents to the SFO.

No further comment will be made on the basis that this may prejudice an ongoing investigation. We also do not anticipate providing further updates on this matter.

Since the events of last year the Board and management have worked together to ensure safe and reliable delivery for clients and secure new orders, whilst at the same time responding as constructively as possible to the SFO investigation.

Separately, the Company will announce its Full Year results for the year ending 31 December 2017 on 1 March 2018.

Ends

For further information contact:

Petrofac Limited

[phone]

Jonathan Low, Head of Investor Relations

[e-mail]

Alison Flynn, Group Head of Communications

[e-mail]

[phone]

Tulchan Communications Group

[phone]

[e-mail]

Andrew Grant

Martin Robinson

LEI 2138004624W8CKCSJ177

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

Notes to Editors

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 12,500 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.

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

END

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February 05, 2018 02:00 ET (07:00 GMT)