Petrofac profits battered by Laggan Tormore and oil slump
Petrofac profits have been hit by a double whammy of low oil prices and accounting for a loss from its Shetland Islands project.
Laggan-Tormore
Laggan Tormore could meet Scotland’s energy demands
Production at newly-opened gas fields in Shetland could meet all of Scotland's average demand, it has been claimed.
Total pulls off best financial performance of all the majors
Total pulled off the best financial performance of the all the industry majors and booked record production.
Total reveals spending ambitions after Lagan-Tormore start-up
Start-up from the £3.5billion Laggan-Tormore gas development west of Shetland paves the way for £690million of investment in the area over the next 10 years.
New senior vice president joins Total team
Total has strengthened its senior team with the appointment of a new senior vice president.
Total confirms first gas from flagship Laggan-Tormore scheme
Total today confirmed first gas from its flagship Laggan-Tormore project.
Exclusive Interview: Total boss says Laggan-Tormore first gas proves “there’s a future for the UK’s offshore industry”
Total’s new UK managing director, Elisabeth Proust , said the firm’s £3.5billion West of Shetland investment was a much needed reminder that there was still everything to play for in UK energy sector – regardless of oil price.
Laggan-Tormore: Fast facts and brief history
Total today confirmed first gas from its flagship Laggan-Tormore project. Want to know how much it cost, which contractor was responsible for drilling and how many jobs it will create? Here's everything you need to know about the West of Shetland scheme.
Total zeroes in on first gas from flagship West of Shetland project
Total is zeroing in on first gas from its flagship Laggan-Tormore project.
Petrofac boss admits Laggan Tormore mistake
Petrofac boss Ayman Asfari has admitted mistakes were made in the handling of the delayed Laggan Tormore gas development - which has led to the company losing $263million on the Shetland project.
Petrofac’s share price jumps despite Shetland woes
Petrofac’s share price rose nearly 10% to 939p despite mounting costs. The firm confirmed staffing issues, work delays and harsh weather conditions led to an additional £30million in incurred costs for its Laggan-Tormore project . The bloated expenditure brings the company’s total loss in the year to date to £140million.