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

March 16, 2022

Image by KingmaPhotos/AdobeStock
Image by KingmaPhotos/AdobeStock

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.




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