Investment

Petrofac Limited
04 June 2007


4 June 2007


                                PETROFAC LIMITED

                                  ("PETROFAC")

                       INVESTMENT IN AUSTRALIAN INTEREST

Petrofac, the international oil & gas facilities service provider, announces
that its Resources division has farmed into 10% of Permit NT/P68, 300 km NNW of
Darwin in Australian waters. MEO Australia Limited, which is listed on the
Australian Securities Exchange (symbol: MEO), owns the remaining 90% of the
permit. The investment is conditional upon, inter alia, the approval of the
assignment by the relevant governmental authorities.

Permit NT/P68 extends over an area of 12,070 km(2) and within it the Heron-1
well was drilled in 1972 and had several interpreted hydrocarbon bearing zones,
the most significant being in the Darwin Formation. The terms of the farm-in
require funding a portion of two appraisal wells to be drilled in 2007. Petrofac
will become operator for any follow-on delineation, development and production
periods.

Subject to the results of the appraisal programme, it is anticipated that the
accumulations in the block may be of sufficient size to be commercialised either
by pipeline to the mainland or to the Tassie Shoal LNG project.

Amjad Bseisu, Chief Executive of Petrofac Resources, said "This farm-in
commitment provides Petrofac with a low risk opportunity to gain an operator
position in a potentially significant offshore development which may incorporate
an LNG facility. We look forward to bringing our engineering and operating
capabilities to this exciting development."


Ends


For further information 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


Notes to Editors

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
Resources, 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 9,000 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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