Acquisition

Petrofac Limited
16 January 2007


                                PETROFAC LIMITED

                   Acquisition in well operations management

Petrofac, the international oil & gas facilities service provider, announces
that it has acquired a 51% interest in SPD Group Limited (SPD), a specialist
provider of well operations services, for a total consideration of $7 million
(adjusted for surplus cash), comprised of $5 million in cash and $2 million to
be satisfied through the issue of 274,938 new Ordinary Shares. Petrofac may, or
may be required to, acquire the remaining 49% of SPD for a cash consideration
which will be determined by the level of future profitability and which will in
no event exceed $30 million.

Based in Dubai and Aberdeen, SPD's main areas of expertise are well project
management, well engineering optimisation, well engineering studies and
consultancy services. With around 70 staff and associates, SPD is managing well
operations in Africa, Europe and the Middle East as well as supporting the
operations of national and international oil companies in the Middle East,
Europe and Africa. SPD was recently awarded the contract to provide well
operations management services in support of Petrofac's operations management
responsibilities for Dubai's offshore oil & gas assets.

Ayman Asfari, Group Chief Executive of Petrofac, commented: "We are delighted
with this acquisition which brings in-house an important service capability as
we seek to provide a broader offering to our clients. SPD's management team has
achieved a significant presence in its market and we look forward to working
with them to continue this growth."

Clive Smith, managing director of SPD, commented: "Working with Petrofac on the
Dubai offshore assets demonstrated to us both the potential benefits of forming
a closer alliance. We are very excited by the prospects to continue our growth
as part of the wider Petrofac group."

Note

Application is being made to the London Stock Exchange and the UK Listing
Authority of the FSA to admit the 274,938 new ordinary shares of $0.025 each in
Petrofac Limited, to be issued as consideration to the Official List. The new
ordinary shares, each fully paid, will rank pari passu with the existing
ordinary shares.

Copies of this announcement will be available for fourteen days from the offices
of Credit Suisse (Europe) Limited, One Cabot Square London E14 4QJ.


                                      Ends

For further information, contact:

Petrofac Limited                                         [phone]
Ayman Asfari, Group Chief Executive
Keith Roberts, Chief Financial Officer
Robin Caiger, Head of Investor Relations

Bell Pottinger Corporate & Financial                     [phone]
Ann-marie Wilkinson
Geoff Callow


Notes to Editors

Petrofac

Petrofac is a leading international provider of facilities solutions to the oil
and gas production and processing industry, with a diverse client portfolio
including many of the world's leading integrated, independent and national oil
and 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 and 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 clients' needs
across the life cycle of oil and gas assets.

With approximately 8,000 employees, Petrofac operates out of four strategically
located international centres, in Aberdeen, Sharjah, Woking and Mumbai and a
further 13 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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