Petrofac: Troubled Energy Engineering Firm Looks To New Geographies

6 Mar 2020 Issue: 63 / 10 By: James Cockayne

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UK-Based Petrofac Has Long Relied On Gulf NOCS As Its Core Customers; Mena Revenue Was $4.2bn For 2018, 71% Of The Petrofac Total. But Saudi And Iraq In Early 2019 Blacklisted The Firm Due To An Ongoing Corruption Investigation^....

...Leaving Petrofac Forced To Look To New Geographies. Mena Accounts For Just 49% Of Potential 2020 Awards With 35% In The UAE Alone. India Accounts For A Further 15%. (% Of Total Revenue)

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