Petrofac Limited: RESTRUCTURING UPDATE

Summary by AI BETAClose X

Petrofac Limited is progressing discussions toward a binding agreement with SAMSUNG E&A and Saipem regarding claims related to the Thai Oil project, as a continuation of the announcement made on September 11, 2025. The Group aims to complete its Restructuring by the end of November 2025 and is considering multiple implementation routes to support operational capability. These routes may result in no residual value for existing shareholders. The final implementation route will be determined based on input from funding parties and key creditors, limiting the Company's sole discretion. Further details will be shared as appropriate, in line with disclosure obligations.

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