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    PFC   GB00B0H2K534

PETROFAC LIMITED

(PFC)
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Petrofac : signs cooperation MOU with Boya Energy, in regional 'first'

11/24/2021 | 04:30am EST
Petrofac signs cooperation MOU with Boya Energy, in regional 'first'

Petrofac, a leading international service provider to the energy sectors, has signed an MOU with Boya Energy, a majority Aboriginal-owned Western Australian renewable energy project developer. The working arrangement supports the parties to collaborate on future renewable energy projects in Australia's resources, energy and industrial sectors.

The signing of the MOU signals international partnership is an important step in Aboriginal participation in the energy transition.

The arrangement allows the parties to work together in a collaborative manner to identify potential opportunities for projects that are of mutual beneficial interest. Boya will provide its experience, local market knowledge and experience in developing, building and delivering renewable energy assets. Both parties anticipate that Petrofac will provide certain services and support to Boya including front-end engineering and design services, business development activities, operations, management and maintenance.

The MOU represents a key step in Petrofac's continued expansion into new and renewable energy, while building new energy capability and capacity in Australia.

Commenting, Petrofac Engineering & Production Services' Regional Director, Josie Philips, said:

"We are delighted to be forming the first Aboriginal energy partnership of its kind in Australia. Like Boya Energy, Petrofac is committed to playing its part in delivering a sustainable energy sector. We have an international presence, but our model of local execution to global standards is what sets us apart. This focus on delivering In-Country Value neatly aligns with Boya's vision to drive value for indigenous communities."We look forward to combining our engineering, project management and operations capabilities, with Boya's off-grid renewable energy expertise to support viable projects that will provide sustainable energy solutions."

CEO of Boya Energy Ron Villaflor said: "Our partnership with Petrofac is an important step for Boya Energy. We take our participation in the renewable energy transition as seriously for Aboriginal people, country and assisting a rapid net zero transition as we do for the business opportunities it provides."

Petrofac has been working with customers in Australia for more than a decade, including providing support to some of the region's largest energy developments. Globally the Group is supporting a number of landmark new and renewable energy projects across the hydrogen, CCUS, wind and waste to value sectors.

Future announcements will be made to detail the initial results of this collaboration.

Disclaimer

Petrofac Ltd. published this content on 24 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2021 09:29:01 UTC.


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Financials (USD)
Sales 2021 3 258 M - -
Net income 2021 -8,14 M - -
Net Debt 2021 196 M - -
P/E ratio 2021 6,57x
Yield 2021 -
Capitalization 890 M 890 M -
EV / Sales 2021 0,33x
EV / Sales 2022 0,38x
Nbr of Employees 10 645
Free-Float 81,2%
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Last Close Price 1,74 $
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Sami Monir Amin Iskander Chief Executive Officer & Executive Director
Afonso Reis E Sousa i Chief Financial Officer & Executive Director
RenÚ MÚdori Non-Executive Chairman
Tarek Massoud Chief Compliance Officer
Matthias F. Bichsel Senior Independent Non-Executive Director
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