18th May 2018 09:58
LONDON (Alliance News) - Oil and gas service provider Petrofac Ltd said on Friday business is going well so far in 2018 with new order intake strong.
Chief Executive Ayman Asfari, speaking at its annual general meeting Friday, noted Petrofac has been awarded "more than USD1.70 billion of new orders in the year to date."
"We also continue to make good progress in 2018 delivering our strategy of focusing on our core... We recently announced our exit from the deep-water market through the sale of the JSD6000 installation vessel, and we continue to retain strong liquidity," Asfari added.
Asfari also commented on the company's chairman, Rijnhard van Tets, who departs at the AGM following his retirement in December.
"This period has not been without challenge, and I commend Rijnhard for his unstinting commitment, wise counsel and sound leadership of the board," Asfari said.
Shares in Petrofac were up 0.1% at 617.20 pence per share on Friday morning.
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