Several large contract wins enabled oilfield services group, Petrofac, to boost 2011's revenues. Exclude last year's gain on the EnQuest demerger, and the company grew adjusted net profit by a robust 25 per cent in 2011 to $539m (£341m).
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Revenue growth was especially noticeable in the Offshore Projects segment; rising 73 per cent to $1.25bn - helped by a $540m receipt from upgrading a floating production facility within the Stella field development in the UK North Sea. What's more, overall revenue growth was supported by a significant step-up in activity within the South Yoloten development in Turkmenistan, as well as the Abu Dhabi Asab oil field.