Petrofac to Appoint Administrators
Petrofac, an oil and gas services company, is set to appoint administrators, putting thousands of jobs at risk.
The company employs over 7,000 workers globally, with around 2,000 based at its North Sea hub in Scotland.
- Approximately 2,000 workers are based in Scotland.
- Over 7,000 workers are employed worldwide.
Petrofac informed investors on Monday that it has applied to the High Court to appoint administrators after restructuring talks collapsed.
The administration will impact the group's main holding company.
This move follows the termination of a major contract by Dutch electricity grid TenneT for building windfarms.
Author's summary: Petrofac faces administration, risking thousands of jobs.
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