Petrofac Limited Report on Payments to Govts (amended) (2381K)
July 05 2017 - 11:27AM
UK Regulatory
TIDMPFC
RNS Number : 2381K
Petrofac Limited
05 July 2017
Press Release
5 July 2017
Petrofac Limited
(the Company)
Reports on Payments to Governments for the year ended 31
December 2016 (amended).
Petrofac today provides information in accordance with DTR 4.3A
of the Financial Conduct Authority's Disclosure Rules and
Transparency Rules in respect of payments made by the Company to
governments for the year ended 31 December 2016 and in compliance
with The Reports on Payments to Governments Regulations 2014 (SI
2014/3209).
The following schedules detail the payments made by Petrofac
Limited and its subsidiary undertakings to the governments of
Malaysia, Thailand and Tunisia in relation to operating oil and gas
fields to which the business had an interest during the reporting
period:
Year ended 31 December 2016
Malaysia
----------- ------- ----------- ----------- -----------
Project Report
Taxes Royalties(2) Fees Total
----------- -------------------- ----------- -----------
Volume Value
'000
US$'000(1) bbls US$'000(1) US$'000(1) US$'000(1)
----------- ------- ----------- ----------- -----------
PM304 - 188 10,156 474 10,630
Berantai 8,653 - - - 8,653
----------- ------- ----------- ----------- -----------
2016 Total 8,653 188 10,156 474 19,283
Government
Report
Taxes Royalties(2) Fees Total
----------- -------------------- ----------- -----------
Volume Value
'000
US$'000(1) bbls US$'000(1) US$'000(1) US$'000(1)
----------- ------- ----------- ----------- -----------
Inland Revenue
Board 8,653 - - - 8,653
PETRONAS - 188 10,156 474 10,630
----------- ------- ----------- ----------- -----------
2016 Total 8,653 188 10,156 474 19,283
Thailand
----------- ------- ----------- ----------- -----------
Project Report
Taxes(3) Royalties(2) Fees Total
----------- -------------------- ----------- -----------
Volume Value
'000
US$'000(1) bbls US$'000(1) US$'000(1) US$'000(1)
----------- ------- ----------- ----------- -----------
Jasmine 720 - - - 720
----------- ------- ----------- ----------- -----------
2016 Total 720 - - - 720
Government
Report
Taxes(3) Royalties(2) Fees Total
----------- -------------------- ----------- -----------
Volume Value
'000
US$'000(1) bbls US$'000(1) US$'000(1) US$'000(1)
----------- ------- ----------- ----------- -----------
Revenue Department 720 - - - 720
----------- ------- ----------- ----------- -----------
2016 Total 720 - - - 720
Tunisia
----------- ------- ----------- ----------- -----------
Project Report
Taxes Royalties(2) Fees Total
----------- -------------------- ----------- -----------
Volume Value
'000
US$'000(1) bbls US$'000(1) US$'000(1) US$'000(1)
----------- ------- ----------- ----------- -----------
Chergui 167 0.2 664 - 831
2016 Total 167 0.2 664 - 831
Government
Report
Total
Taxes Royalties(2) Fees Payments
----------- -------------------- ----------- -----------
Volume Value
'000
US$'000(1) bbls US$'000(1) US$'000(1) US$'000(1)
----------- ------- ----------- ----------- -----------
L'Entreprise
Tunisienne
d'Activités
Pétrolières - 0.2 9 - 9
Monsieur le
Receveur des
Finances du
Lac 167 - 655 - 822
----------- ------- ----------- ----------- -----------
2016 Total 167 0.2 664 - 831
Notes:
1. Payments made in local currencies are translated at the average exchange rate for the year.
2. Certain royalty payments are made in kind, the value of which
is calculated with reference to market rates at the time of
payment.
3. Taxes withheld from income earned by the Petrofac Group have
been included within the amounts listed as "Taxes" in the tables
shown above, despite the fact that the amounts withheld weren't
directly paid to the government by the Petrofac Group. This
approach represents a more complete view of the taxes borne by
Petrofac in Thailand. The adoption of this approach would have
illustrated taxes paid in Thailand per our 2015 report of
$0.9m.
4. In line with the UK Regulations, where a payment or a series
or related payments have not exceeded GBP86,000, they have not been
disclosed
5. No other businesses within the Petrofac Group are impacted by
this legislation and its reporting requirements.
For further information contact:
Petrofac Limited
+44 (0) 207 811 4900
Jonathan Low, Head of Investor Relations
jonathan.low@petrofac.com
Jonathan Edwards, Investor Relations Manager
jonathan.edwards@petrofac.com
Alison Flynn, Group Head of Communications
alison.flynn@petrofac.com
+44 (0) 207 811 4913
Tulchan Communications Group
+44 (0) 207 353 4200
petrofac@tulchangroup.com
Andrew Grant
Martin Robinson
LEI 2138004624W8CKCSJ177
NOTES TO EDITORS
Petrofac
Petrofac is a leading international service provider to the oil
and gas production and processing industry, with a diverse client
portfolio including many of the world's leading integrated,
independent and national oil and gas companies. Petrofac is quoted
on the London Stock Exchange (symbol: PFC).
Petrofac designs and builds oil and 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 clients' needs across the
full life cycle of oil and gas assets.
With around 13,500 employees, Petrofac operates out of seven
strategically located operational centres, in Aberdeen, Sharjah,
Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a
further 24 offices worldwide.
For additional information, please refer to the Petrofac website
at www.petrofac.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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