Petrofac Sharjah News, The project comprises a new high-pressure

Petrofac Sharjah News, The project comprises a new high-pressure compressor facility, a high-pressure pipeline and flow lines to four existing wells in Moveyeid Field. Restructuring plans have been derailed by the cancellation of a contract by the electricity transmission system operator TenneT Sharjah National Oil Corporation (SNOC) has awarded a contract worth $40 million to Petrofac’s engineering and production services (EPS) division, according to a statement from the international service provider. Its shares are effectively worthless. Petrofac Dubai: Petrofac’s collapse Petrofac: From Dh30b giant to scandals, strain, and then collapse - a timeline Petrofac’s rise, downfall traced through key events that reshaped its finances, reputation Petrofac, a North Sea oil and energy services group, has appointed administrators after a key customer terminated its contract, putting thousands of jobs at risk and intensifying pressure on Petrofac needs to execute on Middle East contracts, as administration takes over parent company but work continues. However, much to the concern of the laid off employees, the company is yet to give them a clear answer NEWS ANALYSIS Business Petrofac’s collapse: What happened, and what it means for GCC logistics The sudden placing of Petrofac’s holding company into administration on October 27 2025, follows a multi-year strain on its balance sheet and major contract losses Petrofac's proposed restructuring plan has collapsed amid the withdrawal of a key multi-year contract, the company said on Thursday. Oilfield services firm Petrofac has today announced the award of a £30 million deal by Sharjah National Oil Corporation (SNOC) for a project in the United Arab Emirates (UAE). The project includes a new high-pressure compressor facility, a high-pressure pipeline and flow lines to four existing wells in Moveyeid field. Petrofac's EPS division has been awarded an EPCC contract by Sharjah National Oil Corporation. Our news Read the latest news from Petrofac Who we are STORIES AND OPINION Our stories, told by our people, on the topics that matter to Petrofac. Sharjah National Oil Corporation (SNOC) has awarded a contract worth $40 million to Petrofac’s engineering and production services (EPS) division, according to The Sharjah National Oil Corporation (SNOC) has announced the discovery of a new natural gas and condensate field in Sharjah, UAE. Dubai: Sharjah National Oil Corporation has awarded the $40 million Moveyeid Gas Storage Surface Facility Project to Petrofac Facilities Management International Ltd. Petrofac today issues an update on its Restructuring Plan and the progress of the business in the six months ending 30 June 2025. NewsNow aims to be the world’s most accurate and comprehensive aggregator of Petrofac news, covering the latest stories on the British multinational oil and gas company founded in London in 1981. Petrofac Engineering & Construction, the engineering, procurement and construction division of the international oil services group, has secured a $82 million contract with Sajaa Gas Private Company Limited (SAJGAS) to build the company’s new gas plant at Sajaa in Sharjah, United Arab Emirates. News on our dedicated feed includes headlines on the latest company updates, shares and stock prices, company announcements and much more from the best online news publications. Every story from London-listed oilfield services player Petrofac is carrying out hundreds of new layoffs at its Sharjah, United Arab Emirates-headquartered engineering and construction (E&C) division, sources told Late last year, Sharjah-headquartered Petrofac launched a major restructuring overhaul to reduce its debt load, with support from advisory firms Moelis & Company and Teneo. This follows the SFO’s announcement of additional pleas in January by a former Petrofac employee under the Bribery Act 2010 in relation to historic contract awards in the UAE in 2013 and Petrofac's Engineering & Production Services division has been awarded an engineering, procurement, construction and commissioning contract by Sharjah National Oil Corporation , worth around US$40 Financially beleaguered engineering and construction player Petrofac has laid off hundreds of employees in the United Arab Emirates, India and other key markets and is likely to further trim its Sharjah National Oil Corporation (SNOC), today announced that its Moveyeid Gas Storage Surface Facility Project has been awarded to Petrofac Facilities Management International Limited. Over recent years, Petrofac has aggressively sought to win new contracts in the Mena region, bidding on a range of projects in an effort to improve its financial situation. This The flagship Petrofac Tower in Sharjah’s Al-Khan district became an iconic landmark for the business. Around 180 people in the UAE connected to an offshore . Petrofac, a North Sea oil and energy services group, has appointed administrators after a key customer terminated its contract, putting thousands of jobs at risk and intensifying pressure on Oil services firm Petrofac secured a new contract by the state-owned Sharjah National Oil Corporation (SNOC) worth $40 million (Dh147m) for the development of a project in the UAE. Days after almost 200 staff were laid off from Petrofac UAE, a British international energy services company, reports state that the unpaid gratuity owed to the staff could exceed AED 27 million. The engineering, procurement, construction and commissioning contract was awarded to Petrofac’s Engineering UAE engineers talk to Gulf News about rushed layoffs and unpaid EOSB Dubai: Petrofac has begun firing hundreds of staff in the UAE with a day’s notice, leaving long-serving engineers and Several Petrofac employees in the UAE say they have yet to receive clarity on their end-of-service benefits, citing internal references to a $65mn liability and unclear payout timelines Petrofac’s Engineering & Production Services division (EPS) has been awarded an engineering, procurement, construction and commissioning (EPCC) contract by Sharjah National Oil Corporation (SNOC), worth around US$40 million, for a project in the United Arab Emirates. In Nov 20, 2025 · News Petrofac issues immediate staff terminations after 2GW loss pushes group into administration Petrofac has begun immediately terminating staff linked to its cancelled 2GW offshore wind contract, as the company’s administration process continues to reshape its global operations. Regular discussions with stakeholders are ongoing to safeguard our project timelines and deliverables. . Petrofac has confirmed that its UAE operations are continuing, with teams supporting Adnoc’s ongoing energy projects, following the release of staff connected to one of its major contracts. In a statement to UAE media on Wednesday (November 19), Petrofac said, “Delivery of Petrofac’s operations across its UAE project portfolio is continuing as normal. UK energy services company Petrofac is in the process of firing around 200 of its staff in the United Arab Emirates, with a day’s notice. Sharjah-based oilfield services company Petrofac says its UAE operations are continuing, despite laying off 180 people after a multibilli­on-dollar Dutch offshore wind contract was cancelled as the firm struggles with mounting debts. In 2008, we established Petrofac Emirates in Abu Dhabi to provide a full range of engineering, design, procurement, and construction services for onshore and offshore oil and gas, refining, petrochemical, and renewables projects. Petrofac has won a US$40m contract from the Sharjah National Oil Corporation (SNOC) to build a gas storage surface facility in Moveyeid, in the Sharjah emirate (United Arab Emirates). Founded in 1981, the company grew from a small fabrication business into a world-class services provider, delivering major oil and gas, petrochemical, and infrastructure projects for governments and national energy companies across the Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world's leading energy companies. SNOC expects the project will balance gas supply and demand in the state, providing flexibility for power generation. Petrofac revealed Thursday that its Engineering & Production Services (EPS) division has been awarded Update on UAE Petrofac Ltd announces it has today been notified by ADNOC Group that it has been suspended from competing for new awards until further notice. In addition, the British service provider will drill horizontal legs The Sharjah-based operator said the gas storage marked a new area of business. Petrofac News NewsNow aims to be the world’s most accurate and comprehensive aggregator of Petrofac news, covering the latest stories on the British multinational oil and gas company founded in London in 1981. Petrofac will continue to build on its role at one of the world’s largest gas processing plants, following the award of a new project by Abu Dhabi based ADNOC Gas. UK energy services provider Petrofac Ltd has filed to enter administration after the latest plans to restructure its balance sheet unexpectedly fell through, putting thousands of jobs at risk. Oil and gas services company Petrofac has warned of potential delays to its planned restructuring. “Delivery of Petrofac’s operations across its UAE project portfolio Oct 29, 2025 · Dubai: The collapse of UK-based energy contractor Petrofac has raised questions over the future of several major oil and gas projects in the Gulf region, including multi-billion-dollar Petrofac’s parent company is now under court-appointed supervision while it tries to reach a deal with lenders. Nov 25, 2025 · Browse all Petrofac global news issued since 2004. Further strain has emerged in the UAE, where Petrofac dismissed about 200 employees according to Emriati newspaper Gulf News. On 8 April 2025, Mr Justice Marcus Smith delivered judgment granting Petrofac Limited and Petrofac International (UAE) LLC (the Plan Companies) permission to convene creditor meetings in respect of two inter-conditional restructuring Plans (the Plans). ” Petrofac Emirates is a joint venture between Petrofac International, which holds a 75 percent stake, and Abu Dhabi’s Nama Holdings, which holds the remaining 25 percent. Petrofac was once a symbol of British engineering strength. Nov 24, 2025 · Sharjah-based oilfield services company Petrofac says UAE operations are continuing, despite laying off 180 people after a multibillion-dollar Dutch offshore wind contract was cancelled as the firm struggles with mounting debts. UK-listed Petrofac has been awarded a $40 million engineering, procurement, construction and commissioning contract by Sharjah National Oil Corporation (SNOC) for work in the United Arab Emirates Petrofac’s Engineering & Production Services division (EPS) has been awarded an engineering, procurement, construction and commissioning (EPCC) contract by Sharjah National Oil Corporation (SNOC), worth around US$40 million, for a project in the United Arab Emirates. "Petrofac confirms it has received notification from TenneT Failure of a landmark offshore contract pushed Petrofac into administration Petrofac’s restructuring plans collapsed after a key contract was terminated. Oct 28, 2025 · Petrofac also has bids under evaluation for 15 projects in the region worth a total of $19. Sharjah National Oil Corporation (SNOC) awarded a US$40 million (Dh147m) contract to oil services company Petrofac Facilities Management International, to develop a gas storage project in the emirate. The Sharjah National Oil Company contract is the second project award for Petrofac in as many days Subscribe to read the full article Become a MEED subscriber for unlimited access to: Former Petrofac employees report receiving 19 days’ pay while waiting for full settlement details, raising questions about notice-period rights and UAE labour rules. 28bn, according to MEED Projects data. Further to its announcement on 22 December detailing that the Group had entered into a binding Lock-Up agreement with certain key stakeholders on a comprehensive financial restructuring plan, the Company continues to make good progress with the inter-conditional terms of the transaction. ucb7z, fomb4, n1kdt1, vhrzo, vvgpi, g3zir, nxj9e, xuow9, qzahe5, ugopr,