Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

Petrofac gets $1.7 billion in orders, points to stronger second half

Euronews logo
Text size Aa Aa

(Reuters) – British oilfield services provider Petrofac Ltd said on Tuesday it received new orders worth $1.7 billion (£1.3 billion) so far this year, bolstered by higher exploration activity in its core growth markets.

The company, which is being probed by British authorities for allegations of bribery, said it was well positioned for the second half with good revenue visibility and high levels of tendering activity.

Petrofac also said though trading was in line with expectations, new order intake for the year to date reflected some challenges it had faced in Saudi Arabia and Iraq.

(Reporting by Pushkala Aripaka in Bengaluru; editing by Gopakumar Warrier)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.