Problems for the British oil and gas company
The company, which extracts oil and gas in the North Sea, applied for administration yesterday, threatening thousands of jobs in the UK. Petrofac, with about 2,000 employees based in Aberdeen, employs 1,200 workers on the shelf and another 800 specialists engaged in training and operational activities.
This oil services company is on the verge of insolvency after its restructuring plans failed, leading to serious financial difficulties.
The situation with Petrofac highlights the challenges facing the oil and gas industry, particularly in the context of a changing market environment and increasing pressure to reduce emissions. The unpredictable financial difficulties of…