UK-based international energy services company Petrofac announced on Wednesday that the Abu Dhabi National Oil Company (ADNOC) has lifted the suspension on the company's participation in the oil company's projects.

Petrofac said in a press statement that Abu Dhabi National Oil Company (ADNOC) notified it of the lifting of suspension imposed on 15 March 2021 and reinstated Petrofac in ADNOC’s commercial directory.

"Pursuant to this reinstatement, Petrofac is allowed to participate in all ADNOC’s upcoming new tenders with immediate effect," the statement said.

"This decision acknowledges Petrofac's cooperation with ADNOC’s internal reviews and Petrofac’s commitment to comply with the ADNOC Group Supplier Code of Ethics. It also takes into account Petrofac’s efforts to strengthen governance and implement new policies and procedures to ensure compliance with applicable laws and regulations," the statement added.

In March 2021, Petrofac had announced that ADNOC suspended the company from competing for new project awards after UK's Serious Fraud Office’s announcement of additional pleas in January 2021 by a former Petrofac employee under the Bribery Act 2010 in relation to historic contract awards in the UAE in 2013 and 2014.

(Writing by SA Kader; Editing by Anoop Menon)

(anoop.menon@lseg.com)