Investment in Oil Field

Petrofac Limited
24 February 2006


                                PETROFAC LIMITED
                                  ("Petrofac")

                      INVESTMENT IN UK NORTH SEA INTERESTS

Petrofac, the international oil and gas facilities service provider, announces
today that it has completed the acquisition of a 40 per cent. interest in part
of Block 211/18a in the UK North Sea containing a significant part of the
undeveloped West Don field. Petrofac Resources has acquired the interest
alongside FirstOil and Valiant Petroleum, each with a 30 per cent. interest,
from BP and ConocoPhillips.

Petrofac Resources has also been awarded a 50 per cent. interest in the
adjoining Block 211/18c in the 23rd Round. Valiant Petroleum holds the remaining
50 per cent.

Petrofac Resources, as operator on behalf of FirstOil and Valiant Petroleum,
will look to draw on the expertise of its Engineering & Construction and
Operations Services Divisions with a view to developing the field, including the
possibility of operating as a satellite to the Thistle platform (to which
Petrofac's Operations Services Division provides turnkey facilities management
services).

Amjad Bseisu, Chief Executive of Petrofac Resources, commented:

"This is a good example of where we can effectively deploy investment through
our Resources division to the benefit of the wider group. The West Don area adds
an exciting new prospect to our investment portfolio and we look forward to
working with FirstOil and Valiant to fully maximise its potential."

                                      Ends

For further information, please contact:

Petrofac Limited                                 [phone]
Ayman Asfari, Group Chief Executive
Keith Roberts, Chief Financial Officer
Robin Caiger, Head of Investor Relations


Bell Pottinger Corporate & Financial             [phone]
Ben Woodford
Geoff Callow


Notes to Editors

Petrofac is a leading international provider of facilities solutions to the oil
and gas production and processing industry, with a diverse client portfolio
including many of the world's leading integrated, independent and national oil
and gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC)
and is a constituent of the FTSE 250 Index.

Through its three divisions, Engineering & Construction (E&C), Operations
Services (OS) and Resources, Petrofac designs and builds oil and gas facilities;
operates, maintains or manages facilities and trains personnel; and, where
return criteria are met and service revenue synergies identified, co-invests
with clients and partners. Petrofac's range of services allows it to help meet
its clients' needs across the life cycle of oil and gas assets.

Petrofac operates out of four strategically placed international centres in
Aberdeen, Scotland; Sharjah, UAE; Mumbai, India; and Woking, England, and has a
further 13 offices worldwide, with approximately 7,000 employees.

Petrofac's business is focused on the UK Continental Shelf (UKCS), the Middle
East, Africa and the Former Soviet Union (FSU). Through both organic growth and
strategic acquisition, Petrofac's engineering, procurement and construction
activities have been complemented with development planning and early stage
engineering services, facilities management and training services and
co-investment.

For additional information, please refer to the Petrofac website at
www.petrofac.com.



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