REG-Petrofac Limited Petrofac Limited: Report on payments to governments

PetrofacAnnouncement

29/06/2022 10:00

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   Petrofac Limited ( PFC)
   Petrofac Limited: Report on payments to governments

   29-Jun-2022 / 09:54 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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                                 Press Release

    

    

                                Petrofac Limited

                                 (the Company)

                                        

    Reports on Payments to Governments for the year ended 31 December 2021.

   Petrofac today  provides information  in accorance  with DTR  4.3A of  the
   Financial Conduct Authority's Disclosure and Transparency Rules in respect
   of payments  made by  the Company  to governments  for the  year ended  31
   December  2021  and  in  compliance  with  The  Reports  on  Payments   to
   Governments Regulations  2014  (SI 2014/3209)  as  enacted in  the  UK  in
   December 2014 and as amended in December 2015.

   The following  schedules detail  the  payments made  by, or  to,  Petrofac
   Limited and its subsidiary  undertakings to, or  from, the governments  of
   Malaysia and Thailand arising  from activities involving the  exploration,
   prospection, discovery, development  and extraction of  minerals, oil  and
   natural gas deposits or other materials (extractive activities) during the
   reporting period:

   Year ended 31 December 2021

    

   Malaysia                                                                  

    
    
                                                                             
   Project Report
                     Taxes           Royalties2           Fees      Total    
                                     Volume     Value                        
                    US$'0001      '000 bbls  US$'0001   US$'0001   US$'0001  
                                                                             
   PM304                   -             70     5,397        218      5,615  
   2021 Total              -             70     5,397        218      5,615  
                                                                             
    
                                                                             
   Government Report
                     Taxes           Royalties2           Fees      Total    
                               Volume           Value                        
                    US$'0001   '000 bbls     US$'0001   US$'0001   US$'0001  
                                                                             
   Inland Revenue          -              -         -          -          -  
   Board
   PETRONAS                -             70     5,397        218      5,615  
   2021 Total              -             70     5,397        218      5,615  
                                                                             
                                                                             
                                                                             

    

    

    

   Thailand                                                                  

    
    
                                                                             
   Project Report
                          Taxes3        Royalties         Fees      Total    
                                        Volume   Value                       
                         US$'0001    '000 bbls US$'000   US$'000   US$'0001  
                                                                             
   Jasmine                  1,270            -       -         -      1,270  
   2021 Total               1,270            -       -         -      1,270  
                                                                             
    
                                                                             
   Government Report
                          Taxes3        Royalties         Fees      Total    
                                        Volume   Value                       
                         US$'0001    '000 bbls US$'000   US$'000   US$'0001  
                                                                             
   The Revenue
   Department of            1,270            -       -         -      1,270  
   Thailand
   2021 Total               1,270            -       -         -      1,270  
                                                                             

    

    

   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  £84,000,  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) 20 7811 4900

    

   Jonathan Yarr, Head of Investor Relations

    1 jonathan.yarr@petrofac.com

    

   Alison Flynn, Group Head of Communications

    2 alison.flynn@petrofac.com

    

    

   Tulchan Communications Group

   +44 (0) 20 7353 4200

   petrofac@tulchangroup.com

    

   Martin Robinson

    

    

    

   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  four
   values -  driven,  agile,  respectful and  open  -  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 8,200  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.

    

    

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   ISIN:           GB00B0H2K534
   Category Code:  PGR
   TIDM:           PFC
   LEI Code:       2138004624W8CKCSJ177
   OAM Categories: 1.3. Payments to governments
   Sequence No.:   171447
   EQS News ID:    1386503


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:jonathan.yarr@petrofac.com
   2. mailto:alison.flynn@petrofac.com


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