Petrofac told shareholders it is not aware of a formal notification that the company has been suspected of bidding for new business in Iraq. The Iraqi government said on Monday it had received an official request from Petrofac to bid for contracts worth more than $900 million over two years.
Petrofac told shareholders it is not aware of a formal notification that the company has been suspected of bidding for new business in Iraq. Comments made by CFO Alastair Cochran during a H1 results call were in response to a statement made by the Director General of Iraq’s Basra Oil Company in June that Iraq had taken action to freeze Petrofac from making new bids.