Mubadala and Petrofac to establish new joint venture company

Notes and media contacts

About Mubadala Development Company:

Mubadala Development Company (Mubadala) is a Public Joint Stock Company headquartered in Abu Dhabi, capital of the United Arab Emirates. Its focus is on developing and managing an extensive and economically diverse portfolio of commercial initiatives, either independently or in partnership with leading international organisations. Mubadala's commercial strategy is fundamentally built on long term capital intensive investments that deliver strong financial returns.

The company manages a multi-billion dollar portfolio of local, regional, and international investments, projects and initiatives. Through its investment and development projects, Mubadala is both a catalyst for, and a reflection of, the drive for economic diversification of the Emirate of Abu Dhabi. Its impact is evident domestically and internationally in sectors such as energy, aerospace, real estate, healthcare, technology, infrastructure, and services.

Mubadala's sole shareholder is the Government of the Emirate of Abu Dhabi.

About Mubadala Petroleum Services Company:

Mubadala Petroleum Services Company (MPSC) was incorporated in Abu Dhabi in 2007 with a mission to build on the Emirate's existing business in petroleum products and services by investing in profitable strategic and commercial ventures with manufacturers and superior service providers.

About Petrofac:

Petrofac is a leading international provider of facilities solutions 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.

Through its three divisions, Engineering & Construction, Operations Services and Energy Developments, Petrofac designs and builds oil & gas facilities; operates, maintains or manages facilities and trains personnel; and, where return criteria are met and service revenue synergies identified, co-invests with clients and partners. Petrofac's range of services allows it to help meet its customers' needs across the life cycle of oil & gas assets.

With more than 10,000 employees, Petrofac operates out of four strategically located international centres, in Aberdeen, Sharjah, Woking and Mumbai and a further 20 offices worldwide. The predominant focus of Petrofac's business is on the UK Continental Shelf (UKCS), Africa, the Middle East, the Commonwealth of Independent States (CIS) and the Asia Pacific region.

For further information, kindly contact:

Mohammed Amasha
Media Relations Officer
Mubadala Development Company
t. + 971 50 616 8517

Ayman Asfari
Group Chief Executive
Petrofac Limited
t. +44 (0) 207 811 4900

Charles Cook / Olly Scott
Bell Pottinger Corporate & Financial
t. +44 (0) 20 7861 3232