Trouble in the North Sea? Petrofac files for administration amid debt crisis; 2,000 jobs at risk
Trouble in the North Sea? Petrofac files for administration amid debt crisis; 2,000 jobs at risk
Oil and gas contractor Petrofac has filed for administration, putting approximately 2,000 jobs at risk. The company cited the cancellation of a key offshore wind contract by TenneT as the reason for its inability to proceed with a solvent restructuring. This follows years of financial struggles, including a bribery conviction and significant debt.
Oil and gas contractor Petrofac has filed for administration, putting approximately 2,000 jobs at risk. The company cited the cancellation of a key offshore wind contract by TenneT as the reason for its inability to proceed with a solvent restructuring. This follows years of financial struggles, including a bribery conviction and significant debt.
Oil and gas contractor Petrofac has filed for administration, putting approximately 2,000 jobs at risk. The company cited the cancellation of a key offshore wind contract by TenneT as the reason for its inability to proceed with a solvent restructuring. This follows years of financial struggles, including a bribery conviction and significant debt. 
