Trading Statement

Petrofac Limited
03 July 2006


                                PETROFAC LIMITED
                                  ("Petrofac")

                                 TRADING UPDATE

Petrofac, the international oil & gas facilities service provider, issues the
following pre-close trading update ahead of the announcement of its interim
results for the six months ending 30 June 2006, expected to be on 18 September
2006.

The Board is pleased to be able to report that the Group's strong operational
performance, highlighted in the recent AGM trading statement, has continued and,
with oil & gas markets continuing to support strong demand for our services, the
outlook for the rest of the financial year is viewed with increasing confidence.
It is therefore anticipated that, in the absence of unforeseen circumstances,
the Group's net profit for 2006 will significantly exceed the Board's previous
expectations.

During the first six months of 2006, order intake across the Group amounted to,
in aggregate, approximately $1.0 billion. As at 30 June 2006, total backlog was
approximately $3.4 billion.

                                      Ends


For further information, please 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]

Ben Woodford
Geoff Callow



Notes to Editors

Definition of backlog and order intake

Backlog consists of the estimated revenue attributable to the uncompleted
portion of lump sum engineering, procurement and construction contracts and
variation orders plus, with regard to engineering services and facilities
management contracts, the estimated revenue attributable to the lesser of the
remaining term of the contract and, in the case of life of field facilities
management contracts, five years. To the extent work advances on these
contracts, revenue is recognised and removed from the backlog. Where contracts
extend beyond five years, the backlog relating thereto is added to the backlog
on a rolling monthly basis.

Order intake comprises new contracts awarded, growth in scope of existing
contracts and the rolling increment attributable to contracts which extend
beyond five years.

Backlog and order intake include only the revenue attributable to signed
contracts for which all pre-conditions to entry have been met and only the
proportionate share of joint venture contracts that is attributable to Petrofac.
Backlog and order intake do not include any revenue expected to arise from
contracts where the client has no commitment to draw upon services from
Petrofac.

Backlog and order intake are not audited measures. Other companies in the oil
and gas industry may calculate these measures differently.


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