11th Sep 2025 09:21
Petrofac Ltd - energy infrastructure company with core markets in the Middle East and North Africa - Says it has reached an agreement in principle with Seoul-based construction firm Samsung E&A Co Ltd and Milan, Italy-based oilfield services provider Saipem Spa regarding claims to the Thai Oil project. It says the agreement will allow the restructuring to proceed with their consent. Petrofac says it will now work to conclude discussions with key stakeholders on next steps to implement restructuring, which it expects to be completed by the end of November.
Current stock price: 4.00 pence
12-month change: down 75%
By Michael Hennessey, Alliance News reporter
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