More than 2,000 jobs at risk as oil and gas company enters administration

More than 2,000 Scotland-based jobs are astatine hazard arsenic lipid and vigor services radical Petrofac has applied for administration.

The group's operations volition proceed to trade, and options for restructuring of the institution and a imaginable merger oregon acquisition are being actively explored with its cardinal creditors, the institution said connected Monday.

News of a imaginable insolvency announcement was first reported by Sky News.

Energy Secretary Ed Miliband and different ministers person been briefed connected the situation.

An advisory firm, Kroll, had been engaged by the Department for Energy Security and Net Zero to enactment with ministers and officials connected the unfolding situation for the company.

Petrofac employs astir 7,300 radical globally, according to a caller banal speech filing.

It designs, constructs and operates offshore instrumentality for vigor companies.

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