(PFC.L) Petrofac Ltd Buy/Sell

LONDON, Nov 16 (Reuters) - Petrofac Ltd:

RNS Number : 5625C Petrofac Limited 16 November 2009

PETROFAC LIMITED

PETROFAC AWARDED MAINTENANCE SERVICES CONTRACT

Petrofac, the international oil & gas facilities service provider, announces that its Offshore Engineering & Operations business has been awarded a contract to provide maintenance services in the North Sea by BP Exploration Operating Company Ltd.

Petrofac has won a prestigious five-year contract, worth in excess of £100 million. Under the terms of the contract, Petrofac will deliver integrated maintenance management support services including: the planning, co-ordination and execution of maintenance activities for all of BP's UK offshore assets and the onshore Dimlington plant.

Bernard Looney, managing director, BP North Sea, said: "I am delighted that Petrofac has been awarded the Maintenance Contract. They have the capability to deliver our maintenance strategy and have demonstrated their determination to succeed and I very much look forward to a long and productive partnership. The North Sea is a big part of BP's global business and our goal is to sustain investment over the next decade. This has been the third contract to be awarded out of our £1 billion portfolio of key contracts to be announced over the coming months. These are more than traditional contract renewals - they are designed to fundamentally transform the way we work together with our suppliers to drive improved safety and efficiency in the basin." Maroun Semaan, Petrofac's group chief operating officer commented: "This is a significant contract win for our Offshore Engineering & Operations business and we are delighted to have the opportunity to share our experience and knowledge with BP. An integrated maintenance approach will be adopted, which will enable us to focus on common ways of working to deliver, safely, our mutual goals of enhanced integrity, uptime and asset performance, creating value for both organisations."

Ends

For further information contact:

Bell Pottinger Corporate & Financial: +44 (0) 20 7861 3232

Olly Scott

Notes to Editors

Petrofac

Petrofac is a leading international provider of facilities solutions to the oil & gas production and processing industry, with a diverse customer 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) and is a constituent of the FTSE 100 Index.

The group delivers services through seven business units: Engineering & Construction, Engineering & Construction Ventures, Engineering Services, Offshore Engineering & Operations, Training, Production Solutions and Energy Developments.

Through these businesses 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 customers' needs across the full life cycle of oil & gas assets.

With more than 11,500 employees, Petrofac operates out of five strategically located operational centres, in Aberdeen, Sharjah, Woking, Chennai and Mumbai and a further 19 offices worldwide. The predominant focus of Petrofac's business is on the UK Continental Shelf (UKCS), the Middle East and Africa, the Commonwealth of Independent States (CIS) and the Asia Pacific region.

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

CNTFFSFFMSUSEIF

By Christian Lowe

TUNIS, Nov 9 (Reuters) - Tunisia's energy sector is attracting growing interest from international firms looking for dependable returns, despite oil and gas output that is dwarfed by its neighbours Libya and Algeria.
Tunisia produced 2.9 billion cubic metres of natural gas in 2008 -- a drop in the ocean compared to the 86.5 billion cubic metres pumped by Algeria last year.
But some international oil and gas companies say that while the volumes are low, Tunisia's favourable business climate compares well with the tougher environment in its neighbours.
"It ticks all the boxes that companies are looking for in a place to invest," said Ian Perks, President of BG Tunisia, the local arm of London-listed gas producer BG.
"It's got political stability, good economic growth, sound economic policy, sanctity of contract, we have a very good relationship with all the stakeholders here," he told Reuters.
In a sign of the increased interest, investment in Tunisian exploration has gone up from just over $100 million in 2005 to $400 million last year, according to state energy company ETAP.
The largest producer of gas in Tunisia, BG supplies about 40 percent of domestic demand and it put its total investment by the middle of this year at more than $3 billion.
Italy's ENI, Austrian energy group OMV and British energy services firm Petrofac Plc, which is a partner in an offshore concession, are among the 55 firms operating in Tunisia.
They are likely to be joined by others. "We keep on looking at opportunities in Tunisia," said Manfred Boeckmann, a senior executive with German utility RWE.
"I do hope and am quite confident this will result in some acreage in the mid-term," he told the Energy Exchange North Africa Oil and Gas summit in Tunis at the end of last month.

Tunisia's business-friendly climate contrasts with the challenges in Algeria and Libya, where international energy firms have faced a toughening of contract terms and more assertive national oil companies.
Tunisian prospects under exploration or earmarked for exploration in the Sahara desert are part of the same geological structure as world-class fields next door in Algeria and Libya.
Already, Tunisia has been successful at growing production, said Craig McMahon, lead analyst for the Middle East and North Africa with consultancy Wood Mackenzie.
"Tunisia actually boasts the highest exploration success rate in North Africa for the last 10 years," he told the conference in the Tunisian capital.
The state energy firm is so confident about increasing production that it says that from the end of 2012 it will become a net exporter of gas, pumping 4 million cubic metres a day via an undersea pipeline to Italy.
Some energy analysts say that growing domestic demand could eat up much of the increased output, leaving little for export.
But selling gas inside Tunisia is profitable too because prices are comparable to those on the international market.
"For us, whether we export or whether we sell domestically, it's not the main driver for us, it's the economics that's the driver," said BG's Perks.
"We're very bullish about the economy here. It's been resilient to the financial crisis and so (we have) a growing domestic market, we're looking to supply that market," he said.

(Editing by William Hardy) Keywords: ENERGY TUNISIA/ (maghreb.newsroom@thomsonreuters.com; tel: +213 21 727 020; fax: +213 21 639 151)

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The Times

BP POISED TO BATTLE US RIVAL EXXONMOBIL FOR GHANA OIL

BP has held talks with Ghana National Petroleum over a possible joint bid for a stake in the Jubilee deepwater field in Ghana, which reportedly contains up to 1.8 billion barrels of oil.

The oil group has hired the investment bank Goldman Sachs to advise on a possible bid for a 23 per cent stake in the offshore oil field held by the private equity-backed energy company Kosmos Energy.

Kosmos unveiled plans on October 12 to sell all of its Ghana assets to BP's rival Exxon. BP could face problems in completing the deal as Exxon's agreement to buy the assets is believed to be exclusive.

VIRGIN WON'T TAKE COPYING LYING DOWN

Virgin Atlantic has had a patent application upheld in a High Court Appeal judgement and could now block other airlines from using copies of its Upper-Class seat design.

The herringbone shaped seat, introduced in 2003, was designed by Welsh seat manufacturer Contour, which subsequently sold seats to airlines including Delta, Air Canada and Jet Airways.

Cathay Pacific is facing legal action after buying a similar seat from another manufacturer. Paul Charles, a spokesman for Virgin, said: "It has always been and will remain, a key strategic objective of Virgin Atlantic to protect its intellectual property rights from misuse."

BEIJING MUST 'PLAY WITH THE BIG BOYS', SAYS BHP CHAIRMAN

Don Argus, the outgoing chairman of BHP Billiton, has admitted that the mining group's relations with China, its biggest customer, have at times been strained.

Argus urged China to 'get over' any hostility regarding a proposed 116 billion dollar iron ore joint venture between BHP and its rival Rio Tinto. China is said to oppose the deal, announced in June, as it could undermine the country's position in negotiations over the price of iron ore.

TEMPUS

Petrofac (Hold on)

Smiths News (Buy)

Pinewood Shepperton (Hold on)
The Daily Telegraph

LLOYDS PROPERTY BOSSES LEAVE AS BANK CALLS IN LAND

SECURITIES

Nick Robinson and John Moran are to leave Lloyds Banking Group as it prepares to unwind its 60 billion pound UK commercial property loan book.

Lloyds said the pairs' departure was due to "personal reasons", but comes as the bank attempts to finalise its decision whether to enter the government's Asset Protection Scheme or not.

Lloyds is believed to have established a list of preferred partners - including British Land, Land Securities and Valad - to advise on working out its property portfolio.

TEMPLEMAN SEES CUT-PRICE CHRISTMAS

Rob Templeman, chief executive of Debenhams, has said the retailer will be "at the heart" of discounting and predicted price-cutting will be as deep this Christmas as it was last year.

82 of the top 100 British retailers held sales in the weeks before Christmas last year. Debenhams reported a 14.1 per cent increase in pre-tax profits for the year to August 29, although like-for-like sales fell by 3.6 per cent.

However, like-for-like sales have increased by 0.6 per cent in recent weeks.

CADBURY INVESTOR BACKS 820 PENCE OFFER

A top-10 shareholder in Cadbury has indicated that they would consider an 820 pence-per-share offer from Kraft.

The investor believes Cadbury may struggle to meet its earnings targets should it remain independent, while an offer at the 820 pence level would reflect the synergy benefits of a takeover.

Kraft's original offer valued Cadbury at 745 pence a share, which Legal & General - Cadbury's second-largest investor - claimed "materially undervalued" the company.

Petrofac (Hold)

Unilever (Buy)

The Independent

AVIVA BOSS THREATENS TO SUE OVER LOVE AFFAIR

The chief executive of Aviva and the former colleague for whom he left his wife and children have said that they are willing to take legal action to safeguard their privacy, after the affair became common knowledge.

The insurer was forced to issue a statement about the extra-marital relationship to prove that no company rules had been breached.

Long-term relationships between members of staff where one reports directly to the other are not allowed. Dierdre Galvin, who was married to the head of HR for Aviva in Europe, Andrew Moffat, left her role as head of HR for Aviva Investors before the affair was exposed.

EDDIE STOBART JUST KEEPS ON TRUCKING

The transport company Eddie Stobart is preparing for a profitable second half of the financial year after a significant improvement in performance during the first half. Interim pre-tax profits rose by 12.7 per cent, or 1.4 million pounds, to 12.4 million pounds.

Stobart noted that it had not been very badly affected by the recession because two-thirds of the goods it transports are essential items such as food and drink. New contracts with large companies such as Tesco and Nestle have also helped.

PROFITS WARNING DEALS NEW BLOW TO NATIONAL EXPRESS

National Express has issued a profit warning, due to the increasing cost of financing its one billion pounds of debt.

The company still hopes to alleviate the situation with a rights issue, even though the Spanish Cosmen family (which owns a 19 per cent stake in National Express, making it the largest shareholder) has expressed its support "within certain parameters" for a takeover bid from its rival Stagecoach .

However, Takeover Panel rules specify that a takeover must have majority support from the National Express board.

Anglo American (Buy)

Smiths News (Buy)

Sceptre Leisure (Buy when issues are resolved)

The Guardian

ANGLO AMERICAN PUTS TARMAC UP FOR SALE TO FOCUS ON MINING

AFTER XSTRATA DEAL FAILS

Tarmac, a British aggregate specialist, is up for sale again as part of a new shake-up at mining group Anglo American , which will see "non-core" businesses hived off in the wake of last week's failed merger moves by Xstrata.

Other "non-core" businesses facing the axe include Scaw Metals and Copebras, in a restructuring move seen as a clear attempt to streamline Anglo ahead of any further takeover moves by Xstrata.

GREEN PICKS NEW ARCADIA CHIEF AND WARNS OF A TOUGH CHRISTMAS

AHEAD

Sir Philip Green has installed Ian Grabiner in the new post of chief executive at his 3,115-store Arcadia retail empire, overseeing the day-to-day management of a business with sales of 2.7 billion pounds.

The appointment of Grabiner, a lifetime rag trader who first worked for Green 20 years ago, has sparked speculation that the billionaire was preparing to step back from his retail interests to pursue other ventures.

The management change was announced as Arcadia revealed a 13 per cent rise in pre tax profits to 213.6 million pounds on sales of 1.9 billion pounds.

NATIONAL EXPRESS WARNS ON PROFIT AMID FARES FALL

Transport group National Express has issued a profit warning and admitted that its US business will take longer to sort out than previously thought.

The group is launching a rights issue to shore up its balance sheet and address its one billion pounds of debt, while it is being circled by Stagecoach.

The National Express rival has tabled an alternative share-based proposal which the board is evaluating. National Express would not confirm how much it planned to raise from the equity issue, but analysts predict it will be between 300 million pounds and 350 million pounds.

Prepared for Reuters by Durrants
Keywords: PRESS DIGEST British business

COPYRIGHT

Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

The Times

BP POISED TO BATTLE US RIVAL EXXONMOBIL FOR GHANA OIL

BP has held talks with Ghana National Petroleum over a possible joint bid for a stake in the Jubilee deepwater field in Ghana, which reportedly contains up to 1.8 billion barrels of oil.

The oil group has hired the investment bank Goldman Sachs to advise on a possible bid for a 23 per cent stake in the offshore oil field held by the private equity-backed energy company Kosmos Energy.

Kosmos unveiled plans on October 12 to sell all of its Ghana assets to BP's rival Exxon. BP could face problems in completing the deal as Exxon's agreement to buy the assets is believed to be exclusive.

VIRGIN WON'T TAKE COPYING LYING DOWN

Virgin Atlantic has had a patent application upheld in a High Court Appeal judgement and could now block other airlines from using copies of its Upper-Class seat design.

The herringbone shaped seat, introduced in 2003, was designed by Welsh seat manufacturer Contour, which subsequently sold seats to airlines including Delta, Air Canada and Jet Airways.

Cathay Pacific is facing legal action after buying a similar seat from another manufacturer. Paul Charles, a spokesman for Virgin, said: "It has always been and will remain, a key strategic objective of Virgin Atlantic to protect its intellectual property rights from misuse."

BEIJING MUST 'PLAY WITH THE BIG BOYS', SAYS BHP CHAIRMAN

Don Argus, the outgoing chairman of BHP Billiton, has admitted that the mining group's relations with China, its biggest customer, have at times been strained.

Argus urged China to 'get over' any hostility regarding a proposed 116 billion dollar iron ore joint venture between BHP and its rival Rio Tinto. China is said to oppose the deal, announced in June, as it could undermine the country's position in negotiations over the price of iron ore.

TEMPUS

Petrofac (Hold on)

Smiths News (Buy)

Pinewood Shepperton (Hold on)
The Daily Telegraph

LLOYDS PROPERTY BOSSES LEAVE AS BANK CALLS IN LAND

SECURITIES

Nick Robinson and John Moran are to leave Lloyds Banking Group as it prepares to unwind its 60 billion pound UK commercial property loan book.

Lloyds said the pairs' departure was due to "personal reasons", but comes as the bank attempts to finalise its decision whether to enter the government's Asset Protection Scheme or not.

Lloyds is believed to have established a list of preferred partners - including British Land, Land Securities and Valad - to advise on working out its property portfolio.

TEMPLEMAN SEES CUT-PRICE CHRISTMAS

Rob Templeman, chief executive of Debenhams, has said the retailer will be "at the heart" of discounting and predicted price-cutting will be as deep this Christmas as it was last year.

82 of the top 100 British retailers held sales in the weeks before Christmas last year. Debenhams reported a 14.1 per cent increase in pre-tax profits for the year to August 29, although like-for-like sales fell by 3.6 per cent.

However, like-for-like sales have increased by 0.6 per cent in recent weeks.

CADBURY INVESTOR BACKS 820 PENCE OFFER

A top-10 shareholder in Cadbury has indicated that they would consider an 820 pence-per-share offer from Kraft.

The investor believes Cadbury may struggle to meet its earnings targets should it remain independent, while an offer at the 820 pence level would reflect the synergy benefits of a takeover.

Kraft's original offer valued Cadbury at 745 pence a share, which Legal & General - Cadbury's second-largest investor - claimed "materially undervalued" the company.

COPYRIGHT

Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

The Times

BP POISED TO BATTLE US RIVAL EXXONMOBIL FOR GHANA OIL

BP has held talks with Ghana National Petroleum over a possible joint bid for a stake in the Jubilee deepwater field in Ghana, which reportedly contains up to 1.8 billion barrels of oil.

The oil group has hired the investment bank Goldman Sachs to advise on a possible bid for a 23 per cent stake in the offshore oil field held by the private equity-backed energy company Kosmos Energy.

Kosmos unveiled plans on October 12 to sell all of its Ghana assets to BP's rival Exxon. BP could face problems in completing the deal as Exxon's agreement to buy the assets is believed to be exclusive.

VIRGIN WON'T TAKE COPYING LYING DOWN

Virgin Atlantic has had a patent application upheld in a High Court Appeal judgement and could now block other airlines from using copies of its Upper-Class seat design.

The herringbone shaped seat, introduced in 2003, was designed by Welsh seat manufacturer Contour, which subsequently sold seats to airlines including Delta, Air Canada and Jet Airways.

Cathay Pacific is facing legal action after buying a similar seat from another manufacturer. Paul Charles, a spokesman for Virgin, said: "It has always been and will remain, a key strategic objective of Virgin Atlantic to protect its intellectual property rights from misuse."

BEIJING MUST 'PLAY WITH THE BIG BOYS', SAYS BHP CHAIRMAN

Don Argus, the outgoing chairman of BHP Billiton, has admitted that the mining group's relations with China, its biggest customer, have at times been strained.

Argus urged China to 'get over' any hostility regarding a proposed 116 billion dollar iron ore joint venture between BHP and its rival Rio Tinto. China is said to oppose the deal, announced in June, as it could undermine the country's position in negotiations over the price of iron ore.

TEMPUS

Petrofac (Hold on)

Smiths News (Buy)

Pinewood Shepperton (Hold on)

COPYRIGHT

Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

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08:52GMT 22Oct2009-Petrofac falls on profit taking after update

Shares in Petrofac fall 3.4 percent to 1,029 pence on profit taking after the British oil and gas services company issues a positive trading statement.
Petrofac says contract activity is lively and it expects to deliver full year earnings growth of at least 20 percent.
Accendo Markets, which has a "hold" rating on Petrofac, says, while it expects further progress, the exceptionally strong run by Petrofac shares has surpassed its target.
Shares in the company have been steadily rising since the start of the year, when they were trading at 370 pence.
"The time has come to take some profits over the short term, but after consolidation, we would be buying again into any weakness," Accendo says in a note.
For more double click on

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07:50GMT 22Oct2009-National Express down on sluggish Q3 trade

Shares in National Express fall 2.2 percent after the bus and rail operator reports slower third quarter trade with revenues down 1 percent on the prior year period and says its 2009 pretax profit will be below its previous expectations.
The company also says undertaking an equity fund raising is its primary focus but that it is still mulling a merger offer by rival Stagecoach.
"Our past concerns on current trading seem to have been justified. Consensus estimates are likely to fall, and we cannot rule out further downgrades," says Arbuthnot analyst Gerald Khoo.
"It remains to be seen whether Stagecoach is willing to take on the current trading challenges ... although there is clear upside if Stagecoach were to proceed with a formal offer we remain sceptical about the likelihood of completion."
For more, click on

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07:41GMT 22Oct2009-UK small caps down 0.3 pct early on

The FTSE Small Cap index falls 0.3 percent in early trade outperforming steeper falls by the blue chips and the mid caps, down 1.0 and 0.7 perent, respectively tracking sharp falls overnight on Wall Street and in Asia.
Oxford Biomedica is a big small cap faller, losing 3.3 percent as the gene therapy specialist hits some profit-taking following a strong run over the past week, with the stock up around 50 percent, boosted by news on Oct 15 that its experimental Parkinson's disease drug, ProSavin shows promise.
Emblaze is a good gainer, up more than 12 percent as the technology design firm unveils its ELSE INTUTION mobile platform, developed jointly with software firm ACCESSCO LTD.

Reuters Messaging rm://jon.hopkins.reuters.com@reuters.net
07:40GMT 22Oct2009-Pub firms surge on OFT beer tie clearance

Shares in leased pub companies surge after the Office of Fair Trading gives the go-ahead for the industry to continue operating a 'beer tie' arrangement, which forces tenants to take beer supplies only from their landlords.
Enterprise Inns gains 19 percent, Punch Taverns rises 12 percent, Marston's is up 4 percent, and Greene King gains 2 percent.
Astaire Securities analyst Mark Brumby says the decision will come as a "huge relief" to pub companies and says some 15 to 50 percent of their income could have been threatened had the tie been abolished.
"The companies and their tenants now only have the recession, the consumer squeeze, the ongoing impact of the smoking ban, aggressive supermarkets and soap-boxing politicians to deal with," he adds.
For more please click on

Reuters messaging rm://matthew.scuffham.reuters.com@reuters.net
07:25GMT 22Oct2009-Experian the biggest gainer in FTSE

Shares in credit checking firm Experian advance 1.7 percent, the only significant riser on Britain's FTSE 100 index, after Goldman Sachs upgrades the firm to "buy" from "neutral" and lifts its price target to 670 pence from 557 pence.
"Experian has seen the worst of the economic crisis, and expect organic growth to trough at 1 percent at H1 2010, and return to historical average levels of 7 percent in FY12," the broker says in a note.
"As a consequence of operational gearing and cost cutting we forecast 170bp margin expansion from 2009-12. The strong balance sheet and cash generation should enable Experian to return 17 percent of its market cap to shareholders, after paying for the remaining share of Serasa and assuming 1.9x net debt/EBITDA."

Reuters Messaging rm://dominic.lau.reuters.com@reuters.net

Keywords: MARKETS UK STOCKSNEWS/

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LONDON, Oct 22 (Reuters) - Petrofac Ltd:

RNS Number : 1959B
  Petrofac Limited
  22 October 2009
   

Thursday, 22 October 2009

PETROFAC LIMITED

INTERIM MANAGEMENT STATEMENT

Petrofac, the international oil & gas facilities service provider, issues the following Interim Management Statement for the period 1 July 2009 to 22 October 2009.

General market conditions have remained in line with those reported at the time of our interim results announcement on 24 August notwithstanding that the oil price during the period from 1 July has been significantly higher than in the first half of the yearı. We have continued to win business during the period with contracts secured in both our Engineering & Construction and Offshore Engineering & Operations segments and bidding activity continues at good levels. As the year progresses we are increasingly confident that the group will deliver earnings growth for the full year of at least 20 per cent.

In Engineering & Construction, we have made good progress on engineering and procurement activities and on the placement of construction subcontracts on the awards secured in the first half of the year. This underpins our confidence in the estimates on which the bids were based. Selective bidding activity is continuing and, during the period, we secured a second award in Abu Dhabi to build the fourth natural gas liquids (NGL) train at the Ruwais complex. 

In Offshore Engineering & Operations, our bid pipeline remains strong both in the UKCS and in international markets, as customers look to obtain cost efficiencies by putting contracts out to competitive bids on their scheduled expiry. Whilst this has resulted in some contracts where we are the contract holder being re-tendered, we view the re-tendering of contracts as an opportunity for growth and, in July, we were successful in securing a three year contract to provide engineering and offshore construction services on the Forties Field for Apache.

As previously reported, Engineering Services and Training Services activity levels continue to be somewhat depressed, although business development activity has improved over recent weeks and there are early signs that the improved oil price environment is beginning to encourage our customers to resume some of their more discretionary expenditure. Our Production Solutions business unit is performing well, largely as a consequence of good operational performance on our contract with Dubai Petroleum. 

In Energy Developments, water injection has now commenced on the West Don field, Don Southwest water injection is due to come onstream before the end of the year and gas lift facilities have been commissioned and are currently being optimised.  Intervention work on the completion blockage on one of the two production wells on the Don Southwest field will commence shortly, and while the outcome of this work will impact the level of production for the year, we expect total 2009 production to be within the 3 million to 5 million barrel range previously guided, albeit towards the lower end. Energy Developments' other assets continue to perform in line with expectations. Options for the deployment of the floating production facility acquired in July (now renamed the FPF1) are under active review, as are a number of upstream and energy infrastructure opportunities.

The group's backlog at the end of September was approximately US$8.5 billion (30 June 2009: US$8.4 billion), comprising approximately US$7.0 billion in Engineering & Construction (30 June 2009: US$6.9 billion) and approximately US$1.5 billion across the other business units (30 June 2009: US$1.5 billion). The group's gross cash balances at the end of September stood at approximately US$1.3 billion (30 June 2009: US$0.9 billion) with most of the advance payments due on awards secured in the first half of the year now received.

Notes

(1) Brent, a benchmark crude has traded in the range of US$60 to US$80 per barrel since 1 July compared with an average price of US$52 per barrel in the first half of the year.

Ends

      For further information, please contact:

Petrofac Limited                                         +44 (0) 20 7811 4900

Ayman Asfari, Group Chief Executive

Keith Roberts, Chief Financial Officer

Jonathan Low, Head of Investor Relations

Bell Pottinger Corporate & Financial                +44 (0) 20 7861 3232

Charles Cook

Olly Scott

Petrofac

Petrofac is a leading international provider of facilities solutions to the oil & gas production and processing industry, with a diverse customer 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).  

The group delivers services through seven business units: Engineering & Construction, Engineering & Construction Ventures, Engineering Services, Offshore Engineering & Operations, Training, Production Solutions and Energy Developments.

Through these businesses 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 customers' needs across the full life cycle of oil & gas assets.

With more than 11,000 employees, Petrofac operates out of five strategically located operational centres, in Aberdeen, Sharjah, Woking, Chennai and Mumbai and a further 19 offices worldwide. The predominant focus of Petrofac's business is on the UK Continental Shelf (UKCS), the Middle East and Africa, the Commonwealth of Independent States (CIS) and the Asia Pacific region.

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 
 
IMSILFLTITLLFIA

Oct 12 (Reuters) - :

RNS Number : 2974A
  Petrofac Limited
  06 October 2009
   

6 October 2009

Petrofac Limited

Notice of Interim Management Statement

Petrofac Limited, the international oil & gas facilities service provider, will issue an Interim Management Statement on Thursday, 22 October 2009. 

      

Contact for enquiries:

Jonathan Low

Petrofac Limited

020 7811 4900

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
MSCIIFVTIILRIIA

KHOBAR, Saudi Arabia, Oct 3 (Reuters) - Saudi oil giant Aramco has awarded a contract to upgrade fuel plants to local firm M.S al-Suwaidi Industrial Services Co, two sources close to the deal said on Saturday.
The deal, awarded last month, is for the upgrade of 14 bulk plants in several regions in the Kingdom to raise the storage capacity for gasoline, diesel and fuel oil.
A bulk plant is a wholesale receiving and distributing facility for oil products. It includes storage tanks, warehouses and truck loading facilities.
Aramco is overhauling and expanding domestic distribution facilities to meet rapidly rising domestic demand.
The value of the procurement and construction contract is around $200 million, one of the sources said.
Suwaidi would have to sub-contract the engineering work to another company.
Construction work is expected to finish in about two-and-a-half years, the source said.

Saudi Arabia's Nesma Group, Britain's Petrofac, India's Dayim Punj Lloyd, Italy's Snamprogetti , South Korea's SK Engineering & Construction, France's Technip, and Spain's Tecnicas Reunidas were among the bidders.
Aramco has also invited contractors last month to bid for the construction of a new fuel distribution plant in Wasea, in the kingdom's central region.
The plant would have the capacity to handle 185,000 barrels of oil per day.
(Reporting by Reem Shamseddine; editing by Firouz Sedarat) Keywords: SAUDI FUEL/DISTRIBUTION

(reem.shamseddine@reuters.com; +9663 8592898; Reuters Messaging: reem.shamseddine.reuters.com@reuters.net)

COPYRIGHT

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RNS Number : 1885Z Petrofac Limited 16 September 2009

Petrofac Limited

Director's external appointment

In accordance with Listing Rule 9.6.14(2), Petrofac Limited (the "Company") reports that Mr Bernard de Combret, a non-executive director of the Company, was appointed an independent director of Toreador Resources Corporation today. Toreador Resources Corporation is an independent exploration and production company and is listed on the NASDAQ exchange.

Contact for enquiries:

Petrofac Limited

Mary Hitchon +44 207 811 4900

This information is provided by RNS The company news service from the London Stock Exchange

RDNBUGDCUSBGGCL

Sept 14 (Reuters) -

RNS Number : 4288Y Petrofac Limited 02 September 2009

2 September 2009

Petrofac Limited (the "Company")

Notification of Interests of

Persons Discharging Managerial Responsibility (PDMRs)

Pursuant to the Company's obligations under Disclosure and Transparency Rule 3.1.4, the Company hereby notifies that on 24 August 2009 Gordon East, a person discharging managerial responsibilities, became entitled to 80,646 ordinary shares of US$0.025 each in the Company (the "Shares") at nil cost following the vesting of an award made under the Petrofac Restricted Share Plan.

Following this vesting, Mr East's total holding in the Company amounts to 80,646 Shares, representing 0.023 per cent of the total voting rights of the Company. Mr East also holds unvested share awards under the Petrofac Deferred Bonus Share Plan and the Petrofac Performance Share Plan, details of which have previously been disclosed.

Contact for enquiries:

Petrofac Limited

Sofia Bernsand 020 7811 4900

This information is provided by RNS The company news service from the London Stock Exchange

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