Shares in Petrofac Limited (LON:PFC) edged higher on Monday following weekend reports that the oil services contractor is preparing a potential sale of its North Sea business as it aims to reduce its debt pile.
It has hired consultancy Bain & Co to explore the company’s options, according to a report in The Times,
READ: Petrofac flows higher as it offloads 50% stake in Mexican oil field
The report follows other recent reports that larger oil services groups such as Schlumberger and Halliburton were among potential acquirers of the London listed Plc.
Petrofac shares were up 3.3p, 0.79%, changing hands at 422p.