Petrofac Acquires KW Limited
Petrofac has acquired the entire share capital of KW Limited (KW). Based in Fetcham, near Woking, with an office in Aberdeen, KW is a high-end subsea pipeline consulting and engineering services business with an established reputation in the subsea pipeline market. As at 31 March 2011, KW had gross assets of £2.7 million. The business and its 56 employees will become part of Petrofac's Engineering & Consulting Services business.
Kevin Williams, technical director of KW Limited, commented:
"KW has built a strong reputation as a provider of high value subsea pipeline consulting and engineering and our strong technical and engineering capability provides a solid foundation for future growth. We are excited by the opportunities that being part of Petrofac brings and look forward to playing our part in the development of the business."
Martin Barnes, general manager of Engineering & Consulting Services - Woking, commented:
"KW is a well-established business with an excellent technical reputation and a diverse customer base. The business complements our existing engineering services skills whilst adding valuable subsea capability that will enable us to develop our leading engineering proposition offshore. We are delighted to welcome the KW team to Petrofac."
is an international services provider to the oil & gas production and processing industry, with a diverse customer portfolio including many of the world's leading integrated, independent and national oil & gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC) and is a constituent of the FTSE 100 Index.
The group delivers services through two divisions: Engineering, Construction, Operations & Maintenance (ECOM - comprising Onshore Engineering & Construction, Offshore Projects & Operations and Engineering & Consulting Services) and Integrated Energy Services (IES). Through these divisions Petrofac designs and builds oil & gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac's range of services meets its customers' needs across the full life cycle of oil & gas assets.
With more than 15,000 employees, Petrofac operates out of six strategically located operational centres, in Aberdeen, Sharjah, Woking, Chennai, Mumbai and Abu Dhabi and a further 21 offices worldwide. The predominant focus of Petrofac's business is on the UK Continental Shelf (UKCS), the Middle East and Africa, the Commonwealth of Independent States (CIS) and the Asia Pacific region.
Find out more about:
Search for more News