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FINANCIAL NEWS
Petrofac eyes expansion with USD4bn
23 Aug 2011
(MENAFN) Petrofac’s chief executive officer, Ayman Asfari, said that the British oil service provider plans to spend up to USD4 billion over the next four years to expand its presence in Africa and South East Asia, in addition to its investments in Abu Dhabi, reported The National.
Asfari also said that the demand for the oil services continue to be quite robust. In addition the company is planes to benefit from boosted revenues as the high oil price drives energy investment.
The chief executive officer added that the company’s earnings for the first six months of the current year increased to 6.6 percent and reached USD246 million compared with the same period of the previous year.
Asfari said that Petrofac was searching for fresh contracts in Malaysia and Indonesia and was weighing projects with Nigerian National Petroleum.
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