Petrofac: Iraq OK, Tunisia Out

UK-based service firm Petrofac says it has not seen any “significant impact on our current operations to date” due to the dramatic events in Iraq. Its operations are located to the south and east of Baghdad, a safe distance from the Islamic State of Iraq and Greater Syria (ISIS)-spearheaded blitz. Petrofac says that it expects its Iraqi operations to represent less than 5% of its revenue in 2014.

Meanwhile, the company says that its operations at the Chergui gas field in Tunisia, where it has a 45% stake in the producing asset, experienced a “temporary disruption” due to a dispute between subcontractors. This is just the latest in a string of labor disputes to hit Petrofac in Tunisia. Just two months ago, industrial unrest led to the postponement of development drilling plans at Chergui (MEES, 23 May). For the most part, Petrofac is a service firm; however, it is also a producer in Tunisia. Chergui output was set to rise to 40mn cfd from 30mn cfd before the labor dispute derailed plans; it is unclear whether the previous dispute was resolved or whether the well has been completed.


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