Update Re. Cendor

Petrofac Limited 09 November 2006 PETROFAC LIMITED ("PETROFAC") FIRST CARGO LIFTING FROM CENDOR FIELD, MALAYSIA Petrofac, the international oil & gas facilities service provider, announced in September the commencement of production from the Cendor field in Block PM304, offshore Malaysia, in which it has a 30% interest and is Operator of the field. At that time, five of the expected seven first phase development wells had been drilled and were being brought on-stream selectively to allow testing of the reservoir. Petrofac is pleased to report that the remaining two wells have now been completed and the drilling rig was released on 20 October 2006. Following the completion of the production tests, the field is now averaging approximately 12,000 barrels of oil per day (bpd) with a peak rate established of approximately 16,000 bpd from the H15 and H20 formations. The first cargo lifting from the field has now been completed, comprising approximately 311,000 barrels of oil, and was sold at a price of US$2 per barrel below Tapis crude. Amjad Bseisu, Chief Executive of Petrofac Resources, said: "The Cendor development program has exceeded our expectations with completion of the seven wells ahead of schedule and the timely commissioning of the MOPU and FSO. Additionally, initial well test results are encouraging and, in partnership with Petronas Carigali, Petrofac is undertaking detailed analysis of the reservoir to re-evaluate the extent of estimated proven reserves." Ends For further information, contact: Petrofac Limited +44 (0) 20 7811 4900 Ayman Asfari, Group Chief Executive Keith Roberts, Chief Financial Officer Robin Caiger, Head of Investor Relations Bell Pottinger Corporate & Financial +44 (0) 20 7861 3232 Ann-marie Wilkinson Geoff Callow Notes to Editors Cendor field, Block PM304 Petrofac Malaysia, a wholly owned subsidiary of Petrofac Resources, is Operator of the Cendor field with Petronas Carigali, Kuwait Foreign Petroleum Exploration Company (Kufpec) and PetroVietnam Investment Development Company (PIDC) as its development partners. Petrofac has a 30% interest in the production sharing contract for the field which is estimated to have proven reserves of 24.6 million barrels of oil. The Cendor field is an inverted anticline structure compartmentalised by a number of north-south faults with the targeted reservoir composed of highly stratified formations that vary between muddy or sandy silty-shales and clean sands. Petrofac 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, Operations Services 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. With approximately 8,000 employees, Petrofac operates out of four strategically located international centres, in Aberdeen, Sharjah, Woking and Mumbai and a further 13 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 Far East. For additional information, please refer to the Petrofac website at www.petrofac.com. This information is provided by RNS The company news service from the London Stock Exchange
UK 100

Latest directors dealings