North Sea Energy Firm Falls Into Administration Amid Mounting Crisis ...Middle East

OILPRICE - Economy
North Sea Energy Firm Falls Into Administration Amid Mounting Crisis
source : OILPRICE ( Middle East ) () 72
North Sea oil and energy services group Petrofac has appointed administrators, putting thousands of jobs at risk. The company said it took the decision after one of its customers, TenneT, terminated its relationship over a 2GW energy programme in the Netherlands. “Having carefully assessed its options, and the impact of TenneT’s decision… the directors of Petrofac Limited have applied to the High Court of England and Wales to appoint administrators,” the company said in a statement. “When appointed, administrators…

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