Petrofac

We have announced financial results for the six months ended 30 June 2024. Tareq Kawash, Group Chief Executive, said: “The first half of 2024 was another challenging period for Petrofac, set against the backdrop of a restructuring process which aims to put the business in a stronger financial position. While this has impacted the Group’s performance during the first half, our new projects are performing well, and we continue to make progress in closing our legacy contracts in E&C. The markets we operate in remain robust and we have secured a good level of new order intake in Asset Solutions. As announced last week, we are moving forward with a financial restructuring that will enable us to look to the future. The Board is grateful for the support of our stakeholders during this period and remains focused on delivering the best possible outcome for Petrofac and capitalise on the opportunities ahead of us. I am particularly proud of the continued dedication and commitment of our people and thank them for their ongoing and relentless focus on our customers at this important time.” In the release you will also find: Link to the webcast | 11.00am today Interim financial statements Find out more https://ow.ly/2LR250TyBTo #Petrofac #financialresults

In our latest episode of Energy Talks, we touched on the importance of sustainable fuels in the energy transition and their role in reducing emissions. 🔍 We’ve taken a closer look at the world of sustainable liquid fuels and the emerging technologies our team is expertly addressing to support a wide array of waste-to-value projects. Learn more about turning waste into wonder fuels in our latest article 👇 https://lnkd.in/eHkMauJw #sustainability #SAF #EnergyTransition #podcast

With companies, industries and countries seeking the best long-term balance between energy security, energy affordability, and energy sustainability, the ‘energy trilemma’ is real. Every country and region is weighing up those same three themes according to its own circumstances. So, what does this mean for Australia? How is the energy trilemma playing out down under? Read our Vice President - Asia Pacific, Josie Philips’ article ‘How the energy trilemma is playing out in Australia’ here 👇 https://lnkd.in/eTzBfxzb #energysecurity #energytrilemma #sustainability #australia

🚀 Building the future: Practical steps to power the Energy Transition with John Pearson⚡🎙️    In the latest episode of Energy Talks, we speak with John Pearson, Chief Operating Officer. We unpack the complexities of the industry's energy transition journey and Petrofac's crucial role in driving change.    💡 Key Takeaways from the episode:    🔍 Marginal Gains in Energy Transition: How small, actionable steps can accumulate to create a significant impact in the Energy Transition.     ⚡ Progress Report: The energy transition is underway, but not at the pace we need. While we’re moving in the right direction, practical, immediate actions are critical to achieving our goals.    🏗️ Petrofac's Role in the Transition: From the TenneT 2GW programme to SAF (Sustainable Aviation Fuel) projects, Petrofac is at the forefront, building and operating the infrastructure needed for a sustainable energy future.    🌍 Overcoming Challenges: With economic and infrastructure challenges to overcome, why better incentives and swift action will propel the energy sector forward.    🚀 Looking Ahead: Why agility and efficiency are needed to meet the world's growing energy demands.    🎧 Listen to the full episode now - https://lnkd.in/eixZ2Dfr #EnergyTransition #Sustainability #Podcast #RenewableEnergy #Leadership #FutureOfEnergy #EnergySector #MarginalGains 

The voice from the frontline – whose Safety Culture is it anyway? ERM’s 2024 Global Health and Safety Survey, ‘Rising to the Challenge of the Constantly Changing World of Work’ says that: “The direction of travel is towards deeper engagement with contractors, viewed more as partners, and a more hands-on approach.” Elie Lahoud, COO of our Engineering & Construction division joined peers for an engaging discussion at SPE’s International HSES Conference in Abu Dhabi, hosted by ADNOC. The executive panel explored how operator and contractor company decisions have real world consequences for frontline workers. The session provided a timely opportunity to drive the conversation on alignment around a common agenda and safety culture focus. Our aim is for zero safety incidents. Find out more here: https://ow.ly/Tv4Z50TmIuH #HSE #Collaboration #HorizonZero

We have secured a Gold award for our Project Management Pathway Programme! 🎉 First launched in 2019, our Pathway is designed to: 🦾 Build our core capability now and for the future 🧠 Generate ‘next level’ consistency in delivery by learning and applying best practices 📈 Support employee growth across functions, roles and levels at Petrofac The 2024 Human Capital Awards, hosted by the Brandon Hall Group—a top player in professional development offering global insights, data, and certification—celebrate companies that have excelled in Human Capital Management with measurable results. This achievement highlights our dedication to upskilling our teams, ensuring we continue to deliver the best-in-class execution that our clients expect. Congratulations to our Learning and Development team, all our programme participants, and everyone else involved in making this happen!

📚 Education has the power to transform lives, lifting people out of poverty and providing them with greater opportunities. Through our Corporate Social Responsibility (CSR) programme, we are committed to supporting educational initiatives, especially for marginalised communities. One notable example is Kilar Middle School in Kilar, a remote village near our Chennai hub. What began as a makeshift shed with a straw roof has evolved into a fully-fledged school serving children from grades one to eight. However, severe weather rendered one building unusable, leading to overcrowded and outdoor classes. We stepped in to cover the cost of building two new classrooms and installed a Reverse Osmosis plant, providing students with 50 litres of clean water per hour 🏫 🚰 In Ghana, we partnered with Rigworld Solutionsand Rigworld Group to refurbish four classrooms in Kejabli. Additionally, we are funding a research project at the University of Mines and Technology, Tarkwa (UMaT) to use artificial intelligence (AI) for predictive maintenance, which will help prevent corrosion and damage in offshore operations. This is closely linked to our ongoing work at the Floating Production Storage and Offloading (FPSO) vessel, Kwame Nkrumah MV21, one of Ghana’s flagship offshore ventures 👨🔧 These are just a few examples of how we are working to enhance access to education where it is needed most. We take pride in this role and will continue to invest in projects that enable long-term social and economic development wherever we operate. #CommunityInvolvement #Educationforall

𝗢𝘂𝗿 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲𝘀 𝗮𝗿𝗲 𝗼𝘂𝗿 𝗴𝗿𝗲𝗮𝘁𝗲𝘀𝘁 𝘀𝘁𝗿𝗲𝗻𝗴𝘁𝗵, so creating an environment where everyone feels included, respected, and supported to succeed is a priority at Petrofac. Last night, our dedication to global inclusion was recognised and celebrated at the UnderOne Diversity and Inclusion Awards, 𝘄𝗵𝗲𝗿𝗲 𝘄𝗲 𝘀𝗰𝗼𝗼𝗽𝗲𝗱 𝘁𝗵𝗲 𝘁𝗼𝗽 𝘀𝗽𝗼𝘁 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗚𝗹𝗼𝗯𝗮𝗹 𝗜𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻 𝗘𝘅𝗰𝗲𝗹𝗹𝗲𝗻𝗰𝗲 𝗔𝘄𝗮𝗿𝗱. The accolade was awarded for the impact of our D&I initiatives worldwide, including our Employee Network Groups and Inclusion Month campaign. Congratulations to our D&I team, communications team, and Employee Network Group sponsors, champions, members, and allies, who make Petrofac a better and more inclusive workplace. Learn how we're making Petrofac a better, more diverse workplace 👇 https://lnkd.in/eNzn4mhp

This summer, we partnered with the American University of Sharjah to host a computing camp aimed at nurturing the next generation of tech talent 👩💻 Over 30 students in grades 10-13 from across the UAE joined us for this initiative, which blended learning with fun to introduce young minds to the world of computer science and engineering. The workshop kicked off with a deep dive into web development, covering the ins and outs of HTML and CSS. By the end, our participants had successfully built their very own websites! Next, they delved into the basics of cybersecurity and ethical hacking, taking part in hands-on exercises exploring cryptography and encryption techniques. But the excitement didn't stop there! Towards the end of the course, they got to live every child's dream: designing their very own video game! 🎮 At Petrofac, we're passionate about supporting local communities where we operate. It's been a privilege to empower these aspiring developers with the skills they need to thrive in the future. Thanks to the instructors who made this activity a roaring success, and of course, to our budding coders for bringing their A-game every day. Here's to a future where innovation knows no bounds! 🚀 #ComputingBootcamp #STEM #CommunityInvolvement

Eid Mubarak!🌙 Wishing everyone a joyful Eid Al Adha. May your celebration be filled with happiness, peace, and prosperity.