Petrofac Can Compete for ADNOC Contracts Again, As Year-long, Bribery-related Suspension Lifted

Bartolomej Tomic
Wednesday, March 16, 2022

Oilfield services giant Petrofac said Wednesday that Abu Dhabi National Oil Company (ADNOC) had lifted the suspension of the company imposed in March 2021.

Abu Dhabi-based oil and gas giant ADNOC had suspended oilfield services firm Petrofac from competing for new ADNOC contracts "until further notice," over a bribery case related to contracts awarded in 2013 and 2014.

Petrofac said Wednesday that ADNOC had informed it of the lifting of the suspension and the reinstatement of Petrofac in ADNOC's commercial directory. 

"Pursuant to this reinstatement, Petrofac is allowed to participate in all ADNOC's upcoming new tenders with immediate effect," Petrofac said.

"This decision acknowledges Petrofac cooperation with ADNOC's internal reviews and Petrofac's commitment to comply with the ADNOC Group Supplier Code of Ethics. It also takes into account Petrofac's efforts to strengthen governance and implement new policies and procedures to ensure compliance with applicable laws and regulations," Petrofac added.

Back in April 2020, ADNOC terminated $1.65B worth of contracts with Petrofac, for reasons not disclosed at the time.

The two contracts had been awarded in February 2020, and entailed the delivery by Petrofac of offshore platforms and gas processing facilities for the Dalma Gas Development Project, only to be canceled two months later.


Categories: Energy Middle East Industry News Activity Production Oilfield Services

Related Stories

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

ABL Secures Rig Moving Assignment with India's ONGC

Norwegian Oil Investment Will Peak in '25

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

Current News

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

ABL Secures Rig Moving Assignment with India's ONGC

Pakistan, Türkiye Deepen Oil and Gas Ties with Offshore Indus-C Block Deal

Eni-Petronas Gas Joint Venture Up for Launch in 2026

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com