Petrofac Acquires KW Limited

RNS Number : 5158X

Petrofac Limited

16 February 2012

 



Press Release

16 February 2012

PETROFAC LIMITED

PETROFAC ACQUIRES KW LIMITED

Petrofac, the international oil & gas service provider, announces that it has acquired the entire share capital of KW Limited (KW).  Based in Fetcham, near Woking, with an office in Aberdeen, KW is a high-end subsea pipeline consulting and engineering services business with an established reputation in the subsea pipeline market. As at 31 March 2011, KW had gross assets of £2.7 million. The business and its 56 employees will become part of Petrofac's Engineering & Consulting Services business.

Kevin Williams, technical director of KW Limited, commented: "KW has built a strong reputation as a provider of high value subsea pipeline consulting and engineering and our strong technical and engineering capability provides a solid foundation for future growth. We are excited by the opportunities that being part of Petrofac brings and look forward to playing our part in the development of the business." 

Martin Barnes, general manager of Engineering & Consulting Services - Woking, commented:

"KW is a well-established business with an excellent technical reputation and a diverse customer base. The business complements our existing engineering services skills whilst adding valuable subsea capability that will enable us to develop our leading engineering proposition offshore. We are delighted to welcome the KW team to Petrofac."

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For further information contact:

Tulchan Communications Group Ltd                                  [phone]

Stephen Malthouse

Martin Robinson

[e-mail]

Notes to Editors

Petrofac

Petrofac is a leading international service provider 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 two divisions: Engineering, Construction, Operations & Maintenance (ECOM - comprising Onshore Engineering & Construction, Offshore Projects & Operations and Engineering & Consulting Services) and Integrated Energy Services (IES). Through these divisions 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 15,000 employees, Petrofac operates out of seven strategically located operational centres, in Aberdeen, Sharjah, Woking, Chennai, Mumbai, Abu Dhabi and Kuala Lumpur and a further 21 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.

KW Ltd

KW is an independent engineering and consulting company providing services within the oil & gas subsea sector.

Founded in 1999 as a leading consultancy and problem solver for specialist problems in subsea pipelines, KW is now firmly established as a premier force in international pipeline and subsea engineering.  The company's ascent and enviable track record of success are driven by technical expertise, innovative vision and sharp customer focus. KW's highly experienced team of pipeline engineers is supported by industry-leading technical specialists in structural mechanics, FEA, geotechnics and materials technology.

KW has an international reputation for independent, innovative and high quality engineering with capability across the subsea sector from new field developments to the integrity management of existing infrastructure. KW's customers include oil & gas majors, independents, installation contractors and suppliers who appreciate the company's flexible and responsive service, delivering added value in the form of safe, reliable and cost-effective solutions.

 

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