 | |
| Company type | Public limited company |
|---|---|
| LSE: PFC | |
| Industry | Engineering, Procurement & Construction,Oil & Gas |
| Founded | 1981 |
| Headquarters | London, United Kingdom |
Key people | René Médori,Chairman Tareq Kawash, Group Chief Executive Afonso Reis e Sousa,Chief Financial Officer |
| Products | Petrochemicals |
| Revenue |  US$2,496 million (2023)[1] |
| US$(395) million (2023)[1] | |
| US$(523) million (2023)[1] | |
Number of employees | 7,950 (2023)[2] |
| Website | petrofac.com |
Petrofac Limited is a British international energy services company that designs, builds, manages and maintains oil, gas, refining, petrochemicals andrenewable energy infrastructure, and trains the people who support them. It operates in a range of markets from design to decommissioning. It is registered inJersey (number 81792), with its main corporate office onJermyn Street, London. It has 7,950 employees across more than 30 offices globally.[3] It was for a time in theFTSE 100 Index. In October 2025 the Petrofac holding company filed for administration.[4]
The company was established as a producer of a modular plant inTyler, Texas, United States in 1981.[2] It was first listed on theLondon Stock Exchange in 2005.[2] In 2010, it bought a 20 percent share in the Gateway storage scheme, an undersea cavern for gas storage.[5] In November 2013, Petrofac and theItalian oil firm Bonatti partnered on a $650 million joint venture withSonatrach to develop new separation and booster compression facilities, extending the life of the Alrar gas field in south-east Algeria.[6] In November 2014, the company issued aprofit warning, saying that profit for 2015 would fall by 25%, as slowing demand in China and abundant US output cut the oil price.[7]
In January 2021, a former Global Head of Sales at Petrofac Ltd., which serves the British energy industry, pleaded guilty to charges related tobribery. TheUK Serious Fraud Office confirmed that David Lufkin offered and paid around $30 million to winUnited Arab Emirates contracts worth $3.3 billion for Petrofac between 2012 and 2018. The guilty plea included 11 other charges of bribery, where Lufkin made corrupt offers to influence contract awards of more than $3.5 billion inSaudi Arabia, and over $730 million inIraq.[8] In October 2021 Petrofac was fined £77m for seven charges of failing to prevent bribery in the Middle East.[9]
In April 2024, the company announced that, because of ongoing financing discussions, its financial results would be delayed to the end of May 2024, and in the meantime, its shares would be suspended.[10][11] The results were announced on 31 May 2024,[12] and trading in the shares resumed on 4 June 2024.[13]
In May 2025, because of an ongoing restructuring, it again failed to file its financial results on time, and its shares were again suspended.[14]
In October 2025, the company announced the termination of a contract withTenneT to build wind turbines off the Netherlands coast. Subsequently the Petrofac holding company, which apparently has debts approaching $4 billion, filed for administration, though this did not apply to its operating companies which continued operation.[4]
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