Petrofac Limited: Trading Update
Retrieved on:
Sunday, January 22, 2023
This will largely close-out the mature E&C portfolio that was heavily impacted by pandemic delays.
Key Points:
- This will largely close-out the mature E&C portfolio that was heavily impacted by pandemic delays.
- Management expects to report Group revenue of approximately US$2.5 billion and a full-year business performance EBIT loss of approximately US$100 million for 2022.
- Petrofac will continue to work closely with its partners to pursue the recovery of costs over the course of the contract and, in addition, seek to realise other portfolio upsides.
- This includes bids submitted of approximately US$3.5 billion and a further US$1.5 billion where we are at preferred bidder stage.