Oil firm Petrofac files for administration

Offshore energy company Petrofac appealed to management.

The energy services provider, which employs around 2,000 people in Scotland, said its North Sea business will continue to operate as normal.

In the statement, the group said that it had applied to appoint an administrator to the holding company, but that alternative restructuring options were being investigated.

He added that executives will work to “preserve value, operational capability and ongoing delivery.”

The decision came after Dutch network operator TenneT terminated a major offshore wind contract With Petrofac.

The firm, which has UK offices in Aberdeen, London, Woking and Greater Yarmouth, said more information about the administration process would be provided in due course.

The company, which was founded in Texas in 1981, was going through a financial restructuring process last year.