REG-Petrofac Limited Petrofac Limited: Restructuring Update

PetrofacAnnouncement

Yesterday 07:02

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   Petrofac Limited ( PFC)
   Petrofac Limited: Restructuring Update

   27-Oct-2025 / 07:00 GMT/BST

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   27 October 2025

    

    

                              RESTRUCTURING UPDATE

    

   Further to its announcement on 23 October 2025, Petrofac provides the
   following update. 

   Having carefully assessed its options, and the impact of TenneT’s decision
   to terminate Petrofac’s scope of work on the 2GW programme in the
   Netherlands, the Directors of Petrofac Limited (the Group’s ultimate
   holding company) have applied to the High Court of England and Wales to
   appoint administrators to Petrofac Limited.

   This is a targeted administration of the Group’s ultimate holding company
   only.

   The Group’s operations will continue to trade, and options for alternative
   Restructuring and M&A solutions are being actively explored with its key
   creditors, including the Ad Hoc Group of Noteholders, who are supporting
   the Group with continued forbearance arrangements whilst alternative
   options are explored. The Group also retains the support of its RCF and
   Term Loan lenders who continue to extend maturities on a rolling basis.

   When appointed, administrators will work alongside Executive Management to
   preserve value, operational capability and ongoing delivery across the
   Group’s operating and trading entities.

   Further information will be provided 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 an 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.

    

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

    

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

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   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.:   406212
   EQS News ID:    2218700


    
   End of Announcement EQS News Service

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References

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


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