AGM Statement

Petrofac Limited
11 May 2007


                                PETROFAC LIMITED

                                 AGM STATEMENT

Petrofac, the international oil & gas facilities service provider, is holding
its annual general meeting at 10.30 am today in London, UK.  At the meeting,
Chairman, Rodney Chase, will make the following statement:

"The current year has started well and we are well on track to deliver a year of
continued growth.

Our Engineering & Construction business has made good progress with its key
projects in the Middle East and the Commonwealth of Independent States. In
addition, the division has commenced mobilisation and early work on its Tunisian
and Egyptian contracts awarded in late 2006. In April, the Group opened its
second engineering office in India, in Chennai, in order to support the growth
of the Engineering & Construction division. The office currently has around 100
employees with plans to double this capacity by year end.

Our Operations Services division continues to perform well and in April assumed
full operational responsibility for facilities and well management of Dubai's
offshore oil & gas assets on behalf of Dubai Petroleum Establishment (DPE), an
entity wholly owned by the Government of Dubai. We are pleased to report that,
working closely with DPE, we have achieved a smooth and safe transition of
operatorship and control. In Aberdeen, the growth of our Brownfield business has
continued with a number of new awards.

Resources' portfolio of developed assets is performing well. The Cendor field,
offshore Peninsular Malaysia, has now produced approximately 3 million barrels
of oil and production levels continue to exceed the investment case. Full cost
recovery was achieved in March and we are currently assessing further
development phases. In the UKCS, a draft field development plan (FDP) for the
Don Southwest field has been submitted to the Department of Trade and Industry
(DTI). Subject to consultation with the DTI and the approval of an Environmental
Statement, formal FDP approval is anticipated later this year with production
expected to commence in early 2009. The acquisition of our interest in the
Chergui field in Tunisia was completed in February and is expected to commence
production around the turn of the year.

We continue to see strong levels of demand for our services, which, together
with a widening employee base through recent office openings and recruitment
programmes, gives us confidence in delivering continued growth."


                                      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]
Olly Scott
Victoria Geoghegan


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
network of 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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