LONDON (dpa-AFX) - Petrofac Ltd. (POFCF.PK, POFCY.PK, PFC.L), in its pre-close update for the six months ending 30 June 2021, said its overall trading was in line with its expectations.
The company said it also remain on track to deliver its targeted US$250 million cost savings, which is significantly improving its cost-competitiveness and productivity.
The company noted that new orders are likely to remain depressed in E&C in the current year, but the Group has an active bidding pipeline of $48 billion of opportunities due for award in the next 18 months.
The company said it is making good progress in new energies, where it has secured early-stage positions in key target market projects and where it expects to deliver significant growth in the medium term.
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