A deal has been finalized to prevent the full administration of Petrofac, an energy services company employing approximately 2,000 individuals in Aberdeen. This agreement involves restructuring or partial divestment efforts aimed at maintaining operational continuity and employment levels within the company.

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The arrangement aims to preserve core business functions, safeguard jobs, and stabilize the company’s financial position in the context of ongoing industry challenges. Details specific to the restructuring process, including the terms of the agreement and the involved parties, have not been disclosed publicly. The outcome is expected to prevent significant layoffs and support the continuation of Petrofac’s operational activities in the Aberdeen region, which is a notable hub for offshore oil and gas services. The company’s ability to retain staff is primarily oriented toward sustaining service delivery and meeting contractual obligations amidst market fluctuations.