Changes in Directors’ Responsibilities
4 March 2010
Changes in Directors' Responsibilities
The Board of Petrofac Limited ("Petrofac" or "the company") today announces
that, upon completion of the proposed demerger of Petrofac's UK Continental
Shelf oil & gas assets to a new company, EnQuest PLC, Amjad Bseisu will step
down from his role as Chief Executive of the Energy Developments business unit
and as a Director of Petrofac and will become Chief Executive Officer of
EnQuest PLC.
Following Mr Bseisu's departure, Ayman Asfari, Group Chief Executive of
Petrofac, will, on an interim basis, oversee the Energy Developments and
Productions Solutions business units, supported by Robert Jewkes, currently
Managing Director, Energy Developments, and Gordon East, currently Managing
Director, Production Solutions.
Ayman Asfari, Group Chief Executive of Petrofac, commented:
"On behalf of the Board, I would like to thank Amjad for his outstanding
contribution to the development of Petrofac over the last 12 years. Amjad
joined Petrofac in 1998 to found our co-investment business. During his tenure,
he led the development of our portfolio of investments in upstream oil & gas
assets and energy infrastructure in Algeria, Malaysia, Tunisia and the UKCS. I
am delighted Amjad will have the opportunity to apply his skills and experience
as the CEO of a production and development business. Amjad will leave Petrofac
with our gratitude and we wish him every success in his new career."
Amjad Bseisu, Chief Executive of EnQuest, commented:
"I have thoroughly enjoyed being part of the development and success of
Petrofac over the last 12 years and it has been a privilege to work with so
many talented and entrepreneurial people. Making the decision to leave Petrofac
was extremely difficult but I am very excited about the opportunities ahead for
both companies as a result of this transaction."
Enquiries:
Tulchan Communications +44 (0)20 7353 4200
James Bradley
David Allchurch
About 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 100 Index.
The group delivers services through seven business units: Engineering &
Construction, Engineering & Construction Ventures, Engineering Services,
Offshore Engineering & Operations, Training Services, Production Solutions and
Energy Developments.
Through these businesses Petrofac designs and builds oil & gas facilities;
operates, maintains and manages facilities and trains personnel; enhances
production; and, where it can leverage its service capability, develops and
co-invests in upstream and infrastructure projects. Petrofac's range of
services meets its customers' needs across the full life cycle of oil & gas
assets.
With more than 11,500 employees, Petrofac operates out of five strategically
located operational centres, in Aberdeen, Sharjah, Woking, Chennai and Mumbai
and a further 19 offices worldwide. The predominant focus of Petrofac's
business is on the UK Continental Shelf (UKCS), the Middle East and Africa, 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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