An oil & gas services company providing design and build for oil and gas infrastructures; operates, maintains and manages assets and trains personnel. I have a holding in my growth portfolio (epic code: PFC)
Announced today two contract awards for its joint venture with Mubadala Petroleum from Abu Dhabi Company for Onshore Oil Operations. One was for US$187m with a duration of 20 months and the other for US$500m with a duration of 30 months. This follows on from a US$3.7bn award for the same JV back in April. From the previous award it was stated that Petrofac's share of these contracts are approximately 78%.
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