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Petrofac awarded more than $1.7bn of new orders in year to date

Oil service group Petrofac said it had been awarded more than $1.7bn of new orders in the year to date, while confirming the arrival of its new chairman.

The company had 'continued to make good progress in 2018 delivering our strategy of focusing on our core, delivering organic growth and reducing capital intensity', chief executive Ayman Asfari said in speech notes for its annual general meeting.

Chairman Rijnhard van Tets stood down following three years in the role, to be replaced by Rene Medori.

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