Petrofac Limited (LON:PFC)

Petrofac Limited (LON:PFC)


Share Price
397.90 p
Change
-19.8 (-4.74 %)
Market Cap
£1,376.39 m
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Petrofac Limited RNS Release

Board update


RNS Number : 3724P
Petrofac Limited
07 February 2019
 

Press Release

 

7 February 2019                                                                                              

 

 

BOARD UPDATE ON UK SERIOUS FRAUD OFFICE INVESTIGATION

This morning the Serious Fraud Office announced that a former employee of a Petrofac subsidiary yesterday admitted bribery under the UK Bribery Act 2010.

 

Petrofac confirms that no charges have been brought against any Group company or any other officers or employees. Although not charged, a number of Petrofac individuals and entities are alleged to have acted together with the individual concerned.

 

No current Board member of Petrofac Limited is alleged to have been involved.

 

René Médori, Chairman of Petrofac, said:

 

"The SFO has chosen to bring charges against a former employee of a subsidiary company.  It has deliberately not chosen to charge any Group company or any other officer or employee. In the absence of any charge or credible evidence, Petrofac intends as a matter of policy to stand by its employees."

 

 "Petrofac has policies and procedures in place designed to ensure that we operate at the highest levels of compliance and ethics."

 

 

 

 

ENDS

 

 

For further information contact:

 

Petrofac Limited         

+44 (0) 207 811 4900

 

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

 

Petrofac designs and builds oil and 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 and gas assets.

 

With around 12,750 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 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.
 
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Petrofac Limited Timeline

Newswire
February 28 2019

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