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Petrofac Limited - Report on Payments to Govts

RNS Number : 2164R
Petrofac Limited
26 June 2020
 

Press Release

 

 

Petrofac Limited

(the Company)

 

Reports on Payments to Governments for the year ended 31 December 2019.

Petrofac today provides information in accordance with DTR 4.3A of the Financial Conduct Authority's Disclosure Rules and Transparency Rules in respect of payments made by the Company to governments for the year ended 31 December 2019 and in compliance with The Reports on Payments to Governments Regulations 2014 (SI 2014/3209).

The following schedules detail the payments made by, or to, Petrofac Limited and its subsidiary undertakings to, or from, the governments of Malaysia, Mexico and Thailand in relation to operating oil and gas fields to which the business had an interest during the reporting period:

Year ended 31 December 2019

 

Malaysia

 

 

 

 

 

 

 

 

 

 

 

Project Report

 

 

 

 

 

 

 

 

 

 

Taxes

 

Royalties2

 

Fees

 

Total

 

 

 

 

Volume

Value

 

 

 

 

 

 

US$'0001

 

 '000 bbls

US$'0001

 

US$'0001

 

US$'0001

 

 

 

 

 

 

 

 

 

 

 

PM304

-

 

145

10,155

 

424

 

10,579

 

2019 Total

-

 

145

10,155

 

424

 

10,579

 

 

 

 

 

 

 

 

 

 

 

 

Government Report

 

 

 

 

 

 

 

 

 

Taxes

 

Royalties2

 

Fees

 

Total

 

 

 

 

Volume           Value

 

 

 

 

 

 

US$'0001

 

'000 bbls

US$'0001

 

US$'0001

 

US$'0001

 

 

 

 

 

 

 

 

 

 

 

PETRONAS

-

 

145

10,155

 

424

 

10,579

 

2019 Total

-

 

145

10,155

 

424

 

10,579

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mexico

 

 

 

 

 

 

 

 

 

 

 

Project Report

 

 

 

 

 

 

 

 

 

 

Taxes

 

Royalties

 

Fees

 

Total

 

 

 

 

Volume

Value

 

 

 

 

 

 

US$'000

 

 '000 bbls

US$'000

 

US$'000

 

US$'000

 

 

 

 

 

 

 

 

 

 

 

Petrofac Mexico

-

 

434

18,907

 

-

 

18,907

 

2019 Total

-

 

434

18,907

 

-

 

18,907

 

 

 

 

 

 

 

 

 

 

 

 

Government Report

 

 

 

 

 

 

 

 

 

 

Taxes

 

Royalties

 

Fees

 

Total

 

 

 

 

Volume

Value

 

 

 

 

 

 

US$'000

 

'000 bbls

US$'000

 

US$'000

 

US$'000

 

 

 

 

 

 

 

 

 

 

 

National Hydrocarbons Commission

-

 

434

18,907

 

-

 

18,907

 

2019 Total

-

 

434

18,907

 

-

 

18,907

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thailand

 

 

 

 

 

 

 

 

 

 

 

Project Report

 

 

 

 

 

 

 

 

 

 

Taxes3

 

Royalties

 

Fees

 

Total

 

 

 

 

Volume

Value

 

 

 

 

 

 

US$'0001

 

 '000 bbls

US$'000

 

US$'000

 

US$'0001

 

 

 

 

 

 

 

 

 

 

 

Jasmine

1,064

 

-

-

 

-

 

1,064

 

2019 Total

1,064

 

-

-

 

-

 

1,064

 

 

 

 

 

 

 

 

 

 

 

 

Government Report

 

 

 

 

 

 

 

 

 

 

Taxes3

 

Royalties

 

Fees

 

Total

 

 

 

 

Volume

Value

 

 

 

 

 

 

US$'0001

 

'000 bbls

US$'000

 

US$'000

 

US$'0001

 

 

 

 

 

 

 

 

 

 

 

The Revenue Department of Thailand

1,064

 

-

-

 

-

 

1,064

 

2019 Total

1,064

 

-

-

 

-

 

1,064

 

 

 

 

 

 

 

 

 

 

 

 

 

Notes:

 

1.  Payments made or received 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 the payment.

3.  Taxes withheld from income earned by the Petrofac Group have been included within the amounts listed as "Taxes" in the tables shown above, despite the fact that the amounts withheld were not directly paid to the government by the Petrofac Group.  This approach represents a more complete view of the taxes borne by Petrofac in Thailand

4.  In line with the UK Regulations, where a payment or a series or related payments have not exceeded £86,000, they have not been disclosed.

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

 

 

For further information contact:

 

Petrofac Limited      

+44 (0) 207 811 4900

 

Jonathan Yarr, Head of Investor Relations

[email protected]

 

Alison Flynn, Group Head of Communications

[email protected] 

+44 (0) 207 811 4913

 

Tulchan Communications Group

+44 (0) 207 353 4200

[email protected]

 

Martin Robinson

 

LEI 2138004624W8CKCSJ177

 

 

NOTES TO EDITORS

Petrofac

 

Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world's leading energy companies. Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world's evolving energy needs. Our six values - safe; ethical; innovative; responsive; quality & cost conscious; driven to deliver - are at the heart of everything we do.

 

Petrofac's core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, South East Asia and the United States. We have 11,500 employees based across 31 offices globally.

 

Petrofac is quoted on the London Stock Exchange (symbol: PFC).  

 

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


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
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