Report on Payments to Governments

RNS Number : 8116D

Petrofac Limited

28 June 2019

 

Press Release

28 June 2019

Petrofac Limited

(the Company)

Reports on Payments to Governments for the year ended 31 December 2018.

Petrofac today provides information in accordance with DTR 4.3A of the Financial Conduct Authority's Disclosure Rules and Transparency Rules in respect of payments made by the Company to governments for the year ended 31 December 2018 and in compliance with The Reports on Payments to Governments Regulations 2014 (SI 2014/3209).

The following schedules detail the payments made by, or to, Petrofac Limited and its subsidiary undertakings to, or from, the governments of Malaysia, Mexico, Thailand and Tunisia in relation to operating oil and gas fields to which the business had an interest during the reporting period:

Year ended 31 December 2018

Malaysia
Project Report
	Taxes		Royalties2				Fees		Total
			Volume	Value
	US$'0001		'000 bbls	US$'0001			US$'0001		US$'0001
PM304	-		144	10,757			520		11,277
2018 Total	-		144	10,757			520		11,277
Government Report
	Taxes		Royalties2				Fees		Total
			Volume           Value
	US$'0001		'000 bbls	US$'0001			US$'0001		US$'0001
PETRONAS	-		144	10,757			520		11,277
2018 Total	-		144	10,757			520		11,277

Mexico
Project Report
	Taxes		Royalties			Fees		Total
			Volume	Value
	US$'000		'000 bbls	US$'000		US$'000		US$'000
Petrofac Mexico	-		312	15,557		-		15,557
2018 Total	-		312	15,557		-		15,557
Government Report
	Taxes		Royalties			Fees		Total
			Volume	Value
	US$'000		'000 bbls	US$'000		US$'000		US$'000
National Hydrocarbons Commission	-		312	15,557		-		15,557
2018 Total	-		312	15,557		-		15,557

Thailand
Project Report
	Taxes3		Royalties			Fees		Total
			Volume	Value
	US$'0001		'000 bbls	US$'000		US$'000		US$'0001
Jasmine	844		-	-		-		844
2018 Total	844		-	-		-		844
Government Report
	Taxes3		Royalties			Fees		Total
			Volume	Value
	US$'0001		'000 bbls	US$'000		US$'000		US$'0001
The Revenue Department of Thailand	844		-	-		-		844
2018 Total	844		-	-		-		844

Tunisia
Project Report
	Taxes		Royalties			Fees		Total
			Volume	Value
	US$'0001		'000 bbls	US$'0001		US$'000		US$'0001
Chergui	2,528		-	274		-		2,802
2018 Total	2,528		-	274		-		2,802
Government Report
	Taxes		Royalties			Fees		Total Payments
			Volume	Value
	US$'0001		'000 bbls	US$'000		US$'000		US$'0001
Direction des Grandes Entreprises	2,528		-	274		-		2,802
2018 Total	2,528		-	274		-		2,802

Notes:

1.   Payments made or received in local currencies are translated at the average exchange rate for the year.

2.   Certain royalty payments are made in kind, the value of which is calculated with reference to market rates at the time of the payment.

3.   Taxes withheld from income earned by the Petrofac Group have been included within the amounts listed as "Taxes" in the tables shown above, despite the fact that the amounts withheld were not directly paid to the government by the Petrofac Group.  This approach represents a more complete view of the taxes borne by Petrofac in Thailand. 

4.   In line with the UK Regulations, where a payment or a series or related payments have not exceeded £86,000, they have not been disclosed.

5.   No other businesses within the Petrofac Group are impacted by this legislation and its reporting requirements.

For further information contact:

Petrofac Limited      

[phone]

Jonathan Low, Head of Investor Relations

[e-mail]

Aaron Clark, Investor Relations & Communications Manager

[e-mail]

Alison Flynn, Group Head of Communications

[e-mail] 

[phone]

Tulchan Communications Group

[phone]

[e-mail]

Martin Robinson

LEI 2138004624W8CKCSJ177

NOTES TO EDITORS

Petrofac

Petrofac is a leading international service provider 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).

Petrofac designs and builds oil and 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 clients' needs across the full life cycle of oil and gas assets.

With around 11,500 employees, Petrofac operates out of seven strategically located operational centres, in Aberdeen, Sharjah, Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a further 24 offices worldwide.

For additional information, please refer to the Petrofac website at www.petrofac.com.

 

END

 

 

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