Norman Murray, Petrofac Chairman Quits
Petrofac, the international oil & gas facilities service provider, today announces that Norman Murray, who has been Chairman since May 2011, has resigned from the Board and will step down as Chairman with immediate effect for compassionate reasons. Senior Independent Director, Rijnhard van Tets, will assume the role of Chairman with effect from today. Rijnhard was appointed as a Non-executive Director in May 2007 and became Senior Independent Director in May 2011. Non-executive Director, Thomas Thune Andersen, will become Senior Independent Director. Norman Murray commented: “It is with tremendous sadness that I step down from the Board. I would like to thank my Board colleagues for their support during my tenure and their understanding of my current situation.
Oil Services Must Take on More Risk, Petrofac CEO Warns
Oil service companies will have to assume more risk in the coming years as investor pressure and a flat crude price make oil company clients push harder to avoid delays on megaprojects, the chief executive of FTSE 100 contractor Petrofac said. The biggest oil companies have seen huge delays and broken budgets at projects ranging from record-breaking Australian liquefied natural gas (LNG) schemes to the enormous and technically challenging Kazakhstan oilfield in the freezing Caspian Sea.
Petrofac Order Hi-end Offshore Construction Vessel
Service provider to the oil and gas industry, UK-based Petrofac, confirms placement orders to build its new proprietary design Petrofac JSD 6000 deepwater derrick lay vessel, which will be available for construction and installation activities in early 2017. Petrofac inform that the vessel is based on a unique design which integrates the J-Lay, S-Lay and derrick functions and will provide Petrofac with access to high-end turnkey opportunities in the high growth deepwater and SURF markets, and expand access to shallow water EPCI projects.
