Trading Statement

Petrofac Limited
18 December 2007


                                PETROFAC LIMITED

                                 TRADING UPDATE

Petrofac, the international oil & gas facilities service provider, issues the
following pre-close trading update ahead of the announcement of its audited
results for the year ending 31 December 2007, expected to be on 10 March 2008.

The group's strong operational performance has continued in the second half of
the year with sequential growth in revenue and net margin in both the
Engineering & Construction and Operations Services divisions. The Board
anticipates that, in the absence of unforeseen circumstances, the Group's net
profit for 2007 will be ahead of the top end of current market expectations (see
note below).

The Engineering & Construction division delivered both very strong revenue
growth and further expansion of net margins in the second half of the year. The
execution of projects in-hand proceeds satisfactorily, in particular with first
gas achieved on the Kauther gas plant in Oman in November, two months ahead of
expectation, and with the Hasdrubal and Salam gas plant contracts awarded in
late 2006. During the second half of the year, the division secured additional
business in a number of its key geographical markets, including the award of a
US$600 million lump-sum engineering, procurement and construction (EPC) contract
for the In-Salah gas development in Algeria, new lump-sum contracts expanding
the scope of its work in the Caspian region worth approximately US$200 million
and additional scope under other existing contracts. The division is expected to
report an increase of backlog over the year, which, together with a healthy
bidding pipeline, should underpin continued strong growth in 2008.

The Operations Services division delivered good operational performance across
its portfolio of UKCS and international contracts in the second half of the year
and achieved good sequential growth in revenue and net margin. Following a six
month period of transition the division assumed full turnkey responsibility for
the operation of Dubai Petroleum's offshore oil & gas assets in April 2007. The
new contract is the division's largest international contract to date and is
proceeding positively and in accordance with expectations. The division has
secured new Brownfield and Training contracts in the second half and is expected
to report a year end backlog which is broadly unchanged over the year. Further
revenue growth and net margin improvement are expected to continue into 2008.

The Energy Developments (formerly Resources) division delivered a strong
performance in 2007 and has been active on a number of projects.

The Cendor field, offshore Peninsular Malaysia, which achieved first oil in
September 2006 and full cost recovery in March 2007, has produced, on average,
in excess of 14,000 barrels of oil per day and has benefited from high oil
prices. A further drilling programme is currently in progress, with the
objective of extending peak production and proving additional reserves. In
Tunisia, construction of the production facilities and associated pipeline of
the Chergui development is progressing, with first gas now expected around the
end of the first quarter of 2008. A well has recently been drilled within Block
211/18a in the UK North Sea, to determine the limits of the Don Southwest field.
In permit NT/P68, offshore Northern Australia, the division has farmed-in to a
two well appraisal programme. The first well is nearing completion, has
intersected hydrocarbons in the target zones and testing is about to commence.
The continued capitalisation of drilling and testing costs, which are expected
to total approximately US$12 million after tax, will be determined following
testing of the well.

As at 31 December 2007, total backlog is expected to be approximately
US$4.4 billion (30 June 2007: US$3.9 billion; 31 December 2006: US$4.2 billion)
comprising approximately US$2.5 billion from the Engineering & Construction
division (30 June 2007: US$2.1 billion; 31 December 2006: US$2.2 billion) and
approximately US$1.9 billion from the Operations Services division (30 June
2007: US$1.8 billion; 31 December 2006: US$1.9 billion).

Ayman Asfari, Group Chief Executive of Petrofac, commented: "We are very pleased
with the performance of the Group over the year which has delivered strong
revenue growth combined with margin expansion. We are performing well on our
contract portfolio and with the new awards secured during the year, the
commencement of the Dubai Petroleum contract, a buoyant outlook in terms of
business development opportunities in our core markets and the anticipated
start-up of Chergui; we expect another year of strong growth in 2008."


Note:

The current market expectations for Petrofac's net profit for the year ending
31 December 2007, referred to earlier in this announcement, are based on
forecasts provided to Petrofac by 13 equity analysts since publication of the
Group's interim results in September 2007. The range of those forecasts is from
US$155.4 million to US$173.0 million.

                                      Ends


For further information, please contact:

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


Bell Pottinger Corporate & Financial                     [phone]
Ann-marie Wilkinson
Olly Scott


Petrofac

Petrofac is a leading international provider of facilities solutions to the oil
& gas production and processing industry, with a diverse customer portfolio
including many of the world's leading integrated, independent and national oil &
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, Operations Services and
Energy Developments, Petrofac designs and builds oil & 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 customers'
needs across the life cycle of oil & gas assets.

With more than 9,500 employees, Petrofac operates out of four strategically
located international centres, in Aberdeen, Sharjah, Woking and Mumbai and a
further 16 offices worldwide. The predominant focus of Petrofac's business is on
the UK Continental Shelf (UKCS), Africa, the Middle East, the Commonwealth of
Independent States (CIS) and the Asia Pacific region.

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



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