PETROFAC ENGINEERING LIMITED
Company Information
- Company Number
- 02615887
- Registered Address
- 117 Jermyn Street, London, England And Wales, United Kingdom, SW1Y 6HH
- Status
- Active
- Employee Count
- 1
- Turnover
- £419,000
- EBITDA
- -£293,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 30 May 1991
- Nature of Business
- 82990 - Other business support service activities not elsewhere classified
- Industries
- Property,Infrastructure And Construction
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2025 - 30 Jun 2025 | 25 Jul 2025 | 112 | 0% | 5% | 95% | 26% |
| 01 Jul 2024 - 31 Dec 2024 | 15 Jan 2025 | 58 | 25% | 20% | 55% | 23% |
| 01 Jan 2024 - 30 Jun 2024 | 10 Jul 2024 | 57 | 0% | 89% | 11% | 0% |
| 01 Jul 2023 - 31 Dec 2023 | 05 Jan 2024 | 33 | 50% | 50% | 0% | 0% |
| 01 Jul 2022 - 31 Dec 2022 | 13 Jan 2023 | 27 | 50% | 50% | 0% | 6% |
| 01 Jan 2022 - 30 Jun 2022 | 20 Jul 2022 | 72 | 67% | 4% | 30% | 0% |
| 01 Jul 2021 - 31 Dec 2021 | 14 Jan 2022 | 19 | 100% | 0% | 0% | 38% |
| 01 Jan 2021 - 30 Jun 2021 | 12 Jul 2021 | 23 | 80% | 20% | 0% | 0% |
| 01 Jul 2020 - 31 Dec 2020 | 30 Jan 2021 | 84 | 89% | 0% | 11% | 31% |
| 01 Jan 2019 - 30 Jun 2019 | 23 Jul 2019 | 23 | 67% | 33% | 0% | 0% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Standard 30 day terms
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
Dispute Resolution Process
31. RESOLUTION OF DISPUTES 31.1 Any dispute between the PARTIES in connection with or arising out of the CONTRACT or the WORK shall be resolved by means of the following procedure: (a) the dispute shall initially be referred, by means of a formal notice containing the information set out in clause 31.5 and served in accordance with clause 29.6, to the COMPANY REPRESENTATIVE and CONTRACTYOR REPRESENTATIVE who shall discuss the matter in dispute and make all reasonable efforts to reach an agreement; (b) if no agreement is reached under Clause 31.1(a) above within forty (40) days of the service of such formal notice, the dispute shall be referred to the two persons named in Appenix 1 to Section I – Form of Agreement. Such persons are nominated one by the COMPANY and one by the CONTRACTOR. Such persons may be replaced by the PARTY which nominated them by notice to the other PARTY; (C) if no agreement is reached under Clause 31.1(b) above within twenty (20) days of expiry of t he period referred to in Clause 31.1(b) (that is, within sixty (60) days of the service of the forma notice referred to at Clause 31.1 (a)), the dispute shall be referred to an appropriate Senior Executive of each of the PARTIES who shall met to discuss the matter in dispute within twenty (20) days of expiry of the period referred to in this Clause 31.1(c) (that is, within eighty (80) days of the service of the forma notice referred to at Clause 31.1(a)). 31.2 if no agreement is reached within twenty (20 days of expiry of the period referred to in Clause 31.1(c) (that is, within eighty (80) days of the service of the formal notice referred to at Clause31.1(a)), the PARTIES may attempt to settle the dispute by a form of Alternative Dispute Resolution to be agreed between the PARTIES. 31.3 In the absence of any agreement being reached on a particular dispute within twenty (20) days of expiry of the period referred to in clause 31.1(c) (that is, within eighty (80) days of the service of the formal notice referred to at Clause 31.1(a)), either PARTY may, subject to Clause 31.1, take appropriate action in the Courts to resolve the dispute at any time. 31.4 It shall be a condition precedent to the referral of a dispute to the Courts under Clause 31.3 that the PARTY which intends to commence proceedings in relation to the dispute has used its reasonable endeavours to follow and complete the procedures set out in Clauses 31.1(a), (b) and (c). 31.5 Where any claim or counter claim is connection with or arising out of the CONTRACT is made, the PARTY making the claim of counter claim shall ensure that such claim or counter claim contains, without limitation, the following information: (a) a clear summary of the facts on which the claim or counter claim is based; and (b) the basis on which the claim or counter claim is made, including the principal contractual terms and/or statutory terms relied on; and (c) the nature of the relief claimed; and (d) where a claim or counter claim has been made previously and rejected by the other PARTY, and the PARTY making the claim or counter claim is able to identify the reason(s) for such rejection, the grounds of belief as to why the claim or counter claim is wrongly rejected. 31.6 Whilst any matter or matters are in dispute, the ONTRACTOR shall proceed with the execution and completion of the WORK and both PARTIES shall comply with all the provisions on the CONTRACT.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
PETROFAC ENGINEERING LIMITED is a leading international service provider to the oil and gas industry. They offer a wide range of services including engineering, construction, operations, and maintenance. The company is committed to sustainability and has a strong focus on environmental responsibility.
Their sustainability program includes initiatives such as reducing carbon emissions, promoting energy efficiency, and implementing waste management strategies. They also prioritize the health and safety of their employees and strive to build strong relationships with local communities.
The company's products and services are designed to meet the specific needs of their clients, with a focus on efficiency and cost-effectiveness. They offer innovative solutions for oil and gas production, as well as support services for ongoing operations.
PETROFAC ENGINEERING LIMITED is led by a team of experienced and highly skilled professionals, including their CEO, Mr. Ayman Asfari. With a global workforce of over 11,000 employees, they operate in over 30 countries, providing services to some of the world's largest oil and gas companies.
Their website, www.petrofac.com, provides detailed information on their services, projects, and sustainability efforts. The registered office address is at 42-44 Avenue John F. Kennedy, L-1855 Luxembourg. PETROFAC ENGINEERING LIMITED is committed to delivering high-quality services while maintaining a strong focus on sustainability and social responsibility.
