Thousands of jobs at risk as Petrofac files for administration
Petrofac said it will now enter insolvency after Dutch electricity grid TenneT terminated a major contract

Oil and gas services firm Petrofac has entered administration, jeopardising approximately 2,000 Scottish jobs.

The company's insolvency follows the collapse of restructuring plans, triggered by a failed renewables contract in the Netherlands. Petrofac informed investors on Monday of its application to the High Court for administrators.

The firm employs over 7,000 staff worldwide.

This includes around 2,000 employees from its UK base in Aberdeen, with around 1,200 of these offshore and a further 800 onshore in training and operational roles.

Petrofac said it will now enter insolvency after Dutch electricity grid TenneT terminated a major contract to build windfarms.

https://www.independent.co.uk/news/business...s-b2852876.html

Yes.. most projects are losing money.

yes..mostly EPCIC / Onshore EPCC projects are losing money huhuh

If not "too low", then project lost huhuh

Actually, I know about this proposal and project..this is the CCS Platform that was in 2022 proposal and awarded that year.
The Client (We all know who that is) is the one that requested a crazy schedule.

NPCC and their partner (Based in KL) submitted an attainable schedule which was not in compliance with the Client's requirement.

The rest, is history.

LLI should be Long Lead Items..

LLA Late Life Assets