REG-Petrofac Limited Petrofac Limited: RESTRUCTURING UPDATE

PetrofacAnnouncement

23/10/2025 09:15

============

   Petrofac Limited ( PFC)
   Petrofac Limited: RESTRUCTURING UPDATE

   23-Oct-2025 / 09:00 GMT/BST

   ══════════════════════════════════════════════════════════════════════════

       

   23 October 2025

    

    

                              RESTRUCTURING UPDATE

    

   Further to its announcement on 21 October, Petrofac confirms it has
   received notification from TenneT terminating its scope of work on the 2GW
   programme with immediate effect. 

   Having carefully assessed the impact of TenneT’s decision, the Board has
   determined that the Restructuring, which had last week reached an advanced
   stage, is no longer deliverable in its current form.

   The Group is in close and constant dialogue with its key creditors and
   other stakeholders as it actively pursues alternative options for the
   Group. In the meantime, Petrofac remains focused on serving its clients
   and maintaining operational capability and delivery of services across its
   businesses.

   Further information will be shared in due course. 

   ENDS

   For further information contact:

   Petrofac Limited

   +44 (0) 207 811 4900

    

   Sophie Reid, Group Director of Communications

    1 sophie.reid@petrofac.com

    

   Teneo (for Petrofac)

   +44 (0) 207 353 4200

   petrofac@teneo.com

    

   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 7,300  employees  based
   across 31 offices globally.

    

   Petrofac is listed on the London Stock Exchange (symbol: PFC) trading in
   Petrofac shares is currently suspended pending publication of the Groups
   Full Year 2024 Audited Accounts.

    

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

    

   ══════════════════════════════════════════════════════════════════════════

   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   ISIN:           GB00B0H2K534
   Category Code:  MSCU
   TIDM:           PFC
   LEI Code:       2138004624W8CKCSJ177
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   406018
   EQS News ID:    2217578


    
   End of Announcement EQS News Service

   ══════════════════════════════════════════════════════════════════════════

References

   Visible links
   1. mailto:sophie.reid@petrofac.com


============