It said it has received new orders worth $ 1.7bn so far this year despite challenges in Saudi Arabia and Iraq resulting from bribery allegations made by the Serious Fraud Office . Credit Suisse analysts said that while the SFO resolution will be a potential major catalyst for Petrofac, the bigger worry for investors would be the company’s license to operate across its core Middle East markets. The company also confirmed it was in compliance with earlier guidance and that it is well placed for the second half of the year in part due to high levels of tendering activity .
It said it has received new orders worth $ 1.7bn so far this year despite challenges in Saudi Arabia and Iraq resulting from bribery allegations made by the Serious Fraud Office . The company also confirmed it was in compliance with earlier guidance and that it is well placed for the second half of the year in part due to high levels of tendering activity .