Acquisition

2 Dec 2005 11:47

Petrofac Limited02 December 2005 PETROFAC LIMITED On 30 August 2005, Petrofac Resources (Petrofac) announced that it had reachedagreement with Centrica plc (Centrica) to acquire its 23.15% equity interest inthe Hewett Field Unit area in the UK North Sea. The acquisition was subject tothe approval of the Hewett partners and to the consent of the UK Department ofTrade and Industry. Petrofac has been advised by Centrica that Tullow Oil UK Limited, Eni UK Limitedand Eni LNS Limited have declined to consent to the sale to Petrofac and thatthey wish to acquire Centrica's interest on the same terms as negotiated byPetrofac. Accordingly, the obligations under the sale and purchase agreementbetween Centrica and Petrofac have lapsed. Ends For further information, please contact: Petrofac Limited +44 (0) 20 7471 3500 Ayman Asfari, Group Chief ExecutiveKeith Roberts, Chief Financial OfficerRobin Caiger, Head of Investor Relations Bell Pottinger Corporate & Financial +44 (0) 20 7861 3232 Ann-Marie WilkinsonGeoff Callow Notes to Editors Petrofac is a leading international provider of facilities solutions to the oiland gas production and processing industry, with a diverse client portfolioincluding many of the world's leading integrated, independent and national oiland gas companies. Through its three divisions, Engineering & Construction (E&C), OperationsServices (OS) and Resources, Petrofac designs and builds oil and gas facilities;operates, maintains or manages facilities and trains personnel; and, wherereturn criteria are met and service revenue synergies identified, co-investswith clients and partners. Petrofac's range of services allows it to help meetits clients' needs across the life cycle of oil and gas assets. Petrofac operates out of four strategically placed international centres inAberdeen, Scotland; Sharjah, UAE; Mumbai, India; and Woking, England, and has afurther 13 offices worldwide, with approximately 5,500 employees. Petrofac's business is focused on the UK Continental Shelf (UKCS), the MiddleEast, North Africa and the Former Soviet Union (FSU). Through both organicgrowth and strategic acquisition, Petrofac's engineering, procurement andconstruction activities have been complemented with development planning andearly stage engineering services, facilities management and training servicesand co-investment. For additional information, please refer to the Petrofac website atwww.petrofac.com. This information is provided by RNS The company news service from the London Stock Exchange